India Could Double Exports of Lab-Made Diamonds on Back of Greater US Demand
India may double its exports of laboratory-made diamonds in the current financial year, the Gem & Jewellery Export Promotion Council's vice chairman, Vipul Shah, said in an interview, Bloomberg reported Aug. 22. Following a drastic uptick in U.S. demand and…
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
a more widespread acceptance of lab-made gems in other markets, India -- which cuts or polishes around 90% of the globe's diamonds -- will boost exports of lab-made stones. Shah said exports could grow to $7 billion or $8 billion in the next few years following the growth of U.S., U.K. and Australian demand. In the April-July period this year, exports of polished lab-grown diamonds from India jumped 70% to around $622 million, while exports of mined diamonds fell around 3% to $8.2 billion in the same period, Bloomberg said.