Inside India’s lab-grown diamond industry

  India's Surat: The Hub of Innovation in Lab-Grown Diamonds

Surat, known as Diamond City, has been a celebrated hub for diamond polishing in India for decades. Its bustling streets are lined with sellers offering precious gems. However, amidst this traditional diamond market, one company is revolutionizing the industry by shifting from extracting diamonds from the Earth to growing them in a laboratory.

**Green Lab**, a pioneering company, initially started as an importer of diamonds that were subsequently cut, shaped, and polished. However, a few years ago, they made a transformative shift to a process that they claim is faster, cheaper, and more sustainable. This innovative approach involves growing diamonds in a controlled laboratory environment.

### How Are Diamonds Grown in a Lab?

The process of growing diamonds in a lab is intriguing. It begins with a single seed, which is essentially a diamond crystal plate. These diamond seeds are placed in plasma reactors where they are subjected to precise conditions that mimic the natural formation of diamonds. A key component of this process involves introducing a natural gas, such as methane, which is broken down into carbon atoms. These carbon atoms accumulate on the diamond seed's surface, gradually forming a rough diamond.

One of the most significant advantages of lab-grown diamonds is the speed of production. Unlike natural diamonds that take thousands of years to form, lab-grown diamonds can be created in approximately six weeks. This rapid production not only makes diamonds more accessible but also offers a sustainable alternative.

### Lab-Grown Diamonds: A Game Changer in the Industry

Lab-grown diamonds have blurred the lines between mined and lab-grown diamonds, especially after the cutting and polishing stage. Once a diamond is cut and polished, it becomes challenging to distinguish between mined and lab-grown varieties. This fact has spurred the interest of consumers worldwide.

### Lab-Grown Diamonds on the Market

To gauge the reception of lab-grown diamonds among consumers, we took to the streets of Surat. The feedback was positive, with shoppers expressing their preference for lab-grown diamonds due to their affordability. Many buyers appreciate that lab-grown diamonds offer the look of natural diamonds without the high price tag.

### The Growth of the Lab-Grown Diamond Industry

The lab-grown diamond industry is on an upward trajectory. While it's not a new phenomenon, recent advancements have significantly reduced production costs. Currently valued at $22 billion, the industry's demand is forecasted to nearly double by 2028.

India, a key player in the global diamond market, has also embraced lab-grown diamonds. It now produces around 3 million lab-grown diamonds annually, accounting for approximately 15% of global production. However, concerns about sustainability have arisen due to the considerable power required for diamond growth.

### Sustainability Challenges

One of the challenges for the lab-grown diamond industry is sustainability. Critics argue that the substantial energy consumption associated with diamond growth may undermine claims of sustainability. To address this, Green Lab, for instance, relies on green energy sources, including solar and wind power, to offset their energy usage.

While the lab-grown diamond industry faces sustainability challenges, its affordability and potential to reduce the environmental impact of traditional mining make it an attractive option for consumers and an innovation worth watching in the world of gemstones. The industry's future will likely be shaped by consumers' increasing awareness of climate change and their desire for more sustainable alternatives. As lab-grown diamonds continue to gain traction, their influence in the market is set to grow.

In conclusion, Surat's transition from traditional diamond polishing to cutting-edge lab-grown diamonds highlights the industry's capacity for innovation and adaptation. Lab-grown diamonds offer an affordable, sustainable, and environmentally conscious alternative that is capturing the interest of consumers worldwide. As technology and sustainability measures advance, the lab-grown diamond industry is poised for substantial growth and transformation.