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Amit Shah Urges India to Lead Global Lab-Grown Diamond Market
Amit Shah said India should try to become the world's leading producer of lab-grown diamonds.
Lab-grown diamonds are diamonds made using technology instead of being mined.
He said this market could become almost 50 times larger.
Shah believes India already has much of the needed technology and infrastructure.
He said the government will support the industry with policies.
The government also plans to invest ₹50,000 crore in the India Jewellery Park.
A gems bourse is also being developed in Jaipur.
India's jewellery industry is worth about ₹2.54 lakh crore and supports around 75 lakh jobs.
Shah said the gems and jewellery sector is important for India's economic growth.
Amit Shah said India should become a global leader in lab-grown diamonds.
He said the lab-grown diamond market could expand nearly 50-fold.
Shah said India has the infrastructure and technology to build a competitive industry.
The government plans to invest ₹50,000 crore in the India Jewellery Park.
India's jewellery industry is valued at ₹2.54 lakh crore and employs around 75 lakh people.
- Who
- Union Home Minister Amit Shah and India's gems and jewellery industry.
- What
- Shah called for India to lead the global lab-grown diamond market and outlined government support for the wider jewellery sector.
- Where
- Mumbai, with additional jewellery-sector development planned in Jaipur.
- When
- At the India Gems and Jewellery Awards; the article does not provide a specific date.
- Why
- The lab-grown diamond market is expected to expand nearly 50-fold, and the government sees the sector as an economic opportunity.
Key facts
- Expected market growth
- The lab-grown diamond market is expected to expand nearly 50-fold.
- Planned investment
- ₹50,000 crore is planned for the India Jewellery Park.
- Jewellery industry value
- India's jewellery industry is valued at about ₹2.54 lakh crore.
- Industry employment
- The sector provides employment to around 75 lakh people.
- Additional development
- A gems bourse is being developed in Jaipur.
- Government position
- The government says it is ready to provide policy support for the lab-grown diamond industry.
Quotes
Amit Shah
India’s Union Home Minister
“In terms of volume, the market for lab-grown diamonds is poised to expand to nearly 50 times the size of the current diamond market. This represents a huge opportunity.”
theprint.in
thehindubusinessline.com
“As the era of lab-grown diamonds dawns, we possess the infrastructure, capabilities, capital, and, most importantly, entrepreneurs like you.”
theprint.in
thehindubusinessline.com
Sources
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