 "Narendra Modi, Modi diamond Surat")
PM Modi has been promoting lab-grown diamonds to boost the ‘Make in India’ initiative. (PTI photo)
The 8-carat lab-grown gemstone, showcased by the Surat Diamond Association, took about a month to prepare. The creators of the diamond said that it took them a month to prepare the image on a single lab-grown diamond, which roughly weighed 40 carats before polishing.
The diamond was prepared by a company called SK Diam, which said that it took about 20 craftsmen to complete the job.
“We thought that this diamond is eco-friendly… so, going by PM Modi’s vision… we decided to dedicate this diamond to him,” a company official said.
The exhibition was organised from 12 to 14 July.
Increased support for lab-grown diamonds
PM Modi has been promoting lab-grown diamonds to boost the ‘Make in India’ initiative, which is aimed at promoting domestically manufactured products. Notably, during his 2023 visit to the United States, PM Modi gifted a 7.5-carat lab-grown diamond to US President Joe Biden’s wife, Jill Biden.
Lab-grown diamonds are considered a great substitute for naturally mined ones due to their affordability. They are produced by “simulating the conditions that naturally exist when a diamond crystal grows,” jewellery major Tanishq says, noting the use of high pressure and temperatures in the process.
What does the term carat refer to in diamonds?
According to Tanishq, carat (with a “c”) is a measure of weight for precious stones. One carat equals 0.20 grams. Tanishq explains that when rough diamonds are cut, two-thirds of their weight is lost in the process to achieve their desired polished shape.
“Considering the cutting losses and the fact that large pieces of rough in high quality are unearthed much less often than small rough diamonds, it becomes evident why, for instance, one 2-carat diamond costs a lot more than two 1-carat diamonds of the same quality,” it explains on its website.
Tanishq says that a well-proportioned 1-carat diamond weighs about 6.5 mm in diameter. However, diamond size doesn’t scale linearly with weight.
A 2-carat diamond doesn’t double the diameter of a 1-carat stone. Instead, it measures around 8.2 mm. This is because “much of the diamond weight is attributed to the depth of the diamond,” Tanishq added.
India’s lab-grown diamond exports
According to a report, India’s exports of lab-grown diamonds will likely log up to a 9 per cent increase in the financial year 2024-25 as the demand for naturally mined gemstones has dropped.
The CareEdge Advisory report issued in May states that India has emerged as a significant player in the lab-grown diamond market, accounting for 15 per cent of global production, second only to China.
First Published: Jul 15 2024 | 3:22 PM IST
