Mumbai: India should aim to become a global leader in lab-grown diamonds and the gem and jewellery sector must seize the opportunities emerging from this fast-growing industry, Union Home and Cooperation Minister Amit Sh…

Mumbai: India should aim to become a global leader in lab-grown diamonds and the gem and jewellery sector must seize the opportunities emerging from this fast-growing industry, Union Home and Cooperation Minister Amit Shah said on Sunday.“The lab-grown diamond segment will be 50 times bigger in the future than it is now,” Shah said addressing the 52nd India Gems & Jewellery Awards Ceremony at the Bharat Diamond Bourse in Mumbai’s Bandra-Kurla Complex. Shah extended the Centre’s support for this mission. “India has become a founding member in the field of lab-grown diamonds, and our industry and Indian brands should emerge as global brands. For this, the Government of India is ready to provide every possible assistance,” he added. Amit Shah likely to begin three-day Bengal visit today“The era of lab-grown diamonds is upon us. We have both the skills and the investment. The strategy to develop the entire value chain, including a top-to-bottom plan, should be driven by the diamond traders,” the BJP stalwart said. Shah stated that lab-grown diamonds represent a monumental opportunity. “When the global jewellery trade was modernising, we were under colonial rule. Many nations, even smaller ones, surged ahead of us. But now, as the era of lab-grown diamonds dawns, we possess the infrastructure, the capabilities, the capital, and, most importantly, entrepreneurs like you.On the importance of the sector, Shah said, “Gems and jewellery have always been a part of India’s identity, with trade in gems and jewellery from India taking place across the entire world since 6,000 years ago. Roman historians too have written that Rome’s treasury was spent purchasing India’s gems, craftsmanship, and spices.”

Source: Deccan Herald