Union Home Minister Amit Shah has called upon the industry to ensure India controls the entire lab-grown diamond ecosystem, projecting a massive 50-fold market expansion.
- Amit Shah emphasized Indian control over the entire lab-grown diamond manufacturing chain.
- The market is projected to expand 50 times its current volume.
- The government is introducing new policies to support the sector.
- India's gem and jewellery exports reached ₹2.44 lakh crore in 2025.
Speaking at the 52nd India Gem & Jewellery Awards in Mumbai, Union Home Minister Amit Shah issued a powerful call to action for the Indian diamond industry. He asserted that India must not only participate in the lab-grown diamond market but must control the entire ecosystem—from manufacturing machinery and diamond production to jewelry crafting and global branding.
Shah highlighted the unprecedented scale of this opportunity, stating that the market for lab-grown diamonds is poised to expand nearly 50 times the size of the current diamond market. He noted that with the existing infrastructure, skill sets, and capital, India is uniquely positioned to seize this moment.
Why This Matters
BozokMedia analysis shows that shifting from a service-based model (cutting and polishing) to a product-based model (manufacturing machinery and global branding) is critical for India to capture the high-value segments of the diamond industry and ensure long-term economic dominance.
"India should emerge as a founder member and founder industry in the lab-grown diamond business, while Indian brands should become global brands."
The Home Minister also addressed the importance of regional hubs, specifically mentioning Surat, where 90% of the world's diamond cutting is concentrated, and Mumbai, as a vital financial and export hub. He credited the workers in Surat for boosting the national economy and providing stability to regions like Saurashtra and Kutch.
Historical Background
India's involvement in the gems and jewellery trade spans nearly 6,000 years. Historically, the country has been a global center for gemstone processing, and the transition into lab-grown technology represents the next major evolutionary step in this ancient trade.
Frequently Asked Questions
1. What is the projected growth of the lab-grown diamond market?
According to Amit Shah, the market volume could expand to 50 times its current size.
2. How is the government supporting the diamond industry?
The government is introducing sector-specific policies and offering 15-year income tax exemptions for companies in special notified zones.
| Metric | Current Status | Future Vision |
|---|---|---|
| Market Scale | Established | 50x Expansion Potential |
| Ownership Focus | Processing/Trading | Full Ecosystem/Brand Control |