CNA India hopes to capitalise on fast-growing market for lab-grown diamonds

Lab-grown diamonds are not quite outshining the natural diamonds market yet, but analysts say it’s growing at nearly 15% a year. And India hopes to capitalise on that as the world’s leading integrated diamond hub. India cuts and polishes 90% of the world’s diamonds — both natural and synthetic. Synthetic diamonds can sell for anywhere between 50% and 90% less than mined diamonds. Industry data projects India’s lab-grown diamond market could more than triple from US$400 million today to over US$1.5 billion in 10 years. Ishan Garg reports from New Delhi.

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