Archive · 13 Sep 2026
Amit Shah Calls for Indian Control of Lab-Grown Diamond Ecosystem
Amit Shah said India should become a major leader in lab-grown diamonds.
These diamonds are made using technology rather than mined from the ground.
He said the market could become almost 50 times larger than today’s diamond market.
Shah wants Indian companies to manage every part of the business.
This includes making machines, producing diamonds, designing jewellery and opening stores around the world.
He said India already has important infrastructure, money and skilled businesspeople.
The government also plans to invest ₹50,000 crore in the India Jewellery Park.
A gems bourse is being developed in Jaipur.
Shah said the jewellery industry is important because it is worth about ₹2.54 lakh crore and supports around 75 lakh jobs.
Amit Shah urged India to control the full lab-grown diamond ecosystem and manufacturing chain.
He said the lab-grown diamond market could grow to nearly 50 times the current diamond market by volume.
Shah said India has the infrastructure, capabilities, capital and entrepreneurs needed to compete in the sector.
The government plans to invest ₹50,000 crore in the India Jewellery Park and develop a gems bourse in Jaipur.
India’s jewellery industry is valued at about ₹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 Indian control of the lab-grown diamond ecosystem and urged India to lead the global market.
- When
- Sunday, September 13, 2026.
- Where
- At the 52nd India Gem & Jewellery Awards in Mumbai; related development is planned in Jaipur.
- Why
- Shah said the market could expand nearly 50-fold and represents a major opportunity for India’s economy and jewellery sector.
- Market outlook
- The lab-grown diamond market is expected to expand to nearly 50 times the current diamond market by volume.
- Industry control
- Shah said Indians should control machinery, production, jewellery-making, branding and overseas showrooms.
- Planned investment
- ₹50,000 crore is planned for the India Jewellery Park.
- Jaipur development
- A gems bourse is being developed in Jaipur.
- Jewellery industry value
- India’s jewellery industry is valued at about ₹2.54 lakh crore.
- Employment
- The industry provides employment to around 75 lakh people.
- Historical trade
- Shah said India’s gems and jewellery trade with the world spans almost 6,000 years.
