A notable exhibition organised by the Surat Diamond Association has garnered significant attention, featuring an 8-carat lab-grown diamond engraved with Prime Minister Narendra Modi’s likeness. The event, held from July 12 to 14 in Gujarat’s diamond city, Surat, displayed this exceptional gemstone, highlighting the intersection of innovative craftsmanship and eco-friendly practices.
Crafting the ‘Modi Diamond’
The creation of the ‘Modi Diamond’ was a meticulous process, taking about a month to complete. Initially weighing 40 carats before polishing, the diamond was intricately engraved to feature PM Modi’s face. This significant feat was achieved by SK Diam, a company known for its precision and quality. The project required the dedicated efforts of 20 craftsmen.
A representative from SK Diam mentioned the diamond’s eco-friendly attributes, stating, “We thought that this diamond is eco-friendly… so, going by PM Modi’s vision… we decided to dedicate this diamond to him.” This dedication aligns with PM Modi’s broader initiatives to promote sustainable practices within the industry.
The Rise of Lab-Grown Diamonds
Prime Minister Modi has been a vocal advocate for lab-grown diamonds, particularly under the ‘Make in India’ initiative, which aims to bolster domestic manufacturing. During his 2023 visit to the United States, PM Modi presented a 7.5-carat lab-grown diamond to Jill Biden, wife of US President Joe Biden, highlighting the growing acceptance of these diamonds as sustainable alternatives to mined stones.
Lab-grown diamonds are produced by simulating natural diamond-forming conditions involving high pressure and temperatures. This method offers a cost-effective and environmentally friendly option compared to traditional mining. Leading jewellers like Tanishq note that these diamonds, while identical in appearance and structure to mined diamonds, are more affordable and sustainable.
Industry Implications and Trends
India has emerged as a significant player in the lab-grown diamond market, contributing to 15% of global production, second only to China. A report by CareEdge Advisory forecasts up to a 9% increase in India’s exports of lab-grown diamonds for the financial year 2024-25, driven by declining demand for naturally mined gemstones.
The Surat exhibition not only underscores India’s expertise in diamond craftsmanship but also reflects the industry’s commitment to innovation and sustainability. The display of the ‘Modi Diamond’ exemplifies how traditional artistry can integrate with modern, eco-conscious practices, resonating with PM Modi’s vision for sustainable development in India’s jewellery sector.
