Washington: Prime Minister Narendra Modi, currently on a three-day state visit to the United States, presented an eco-friendly lab-grown 7.5 carat diamond, elegantly encased in a Papier mache box from Kashmir, as a gift to First Lady Jill Biden. The occasion was an intimate dinner hosted by US President Joe Biden and First Lady Jill Biden at the White House. During the event, discussions covered a range of topics, gifts were exchanged, and a musical tribute to different regions of India was enjoyed.
Commerce and Industry Minister Piyush Goyal took to Twitter to share the news, stating, “‘Bharat Ka Heera! (India’s diamond) PM @NarendraModi ji gifts this beautiful eco-friendly lab-grown diamond, placed in Kashmir’s exquisite Papier mache box to the US First Lady @FLOTUS.” Notably, the diamond is environmentally friendly, with its production involving the use of resources such as solar and wind power.
This green diamond is meticulously sculpted using cutting-edge technology, emitting only 0.028 grams of carbon per carat. It is certified by the International Gemological Institute (IGI), ensuring its quality and authenticity. The Indian government has been actively promoting the manufacturing of lab-grown diamonds (LGD) in the country, as evidenced by steps announced in the recent Union Budget.
To facilitate the growth of the lab-grown diamond industry in India, the government eliminated customs duty on LGD seeds, previously set at 5%. Additionally, a five-year research grant has been approved for the Indian Institutes of Technology, Madras, aimed at encouraging indigenous production of LGD machinery, seeds, and manufacturing techniques. The proposal also includes the establishment of an India Centre for Lab-grown Diamond (InCent-LGD) at IIT Madras, with an estimated cost of Rs 242.96 crore over five years.
Lab-grown diamonds are produced using two technologies: High-Pressure High Temperature (HPHT) and Chemical Vapour Deposition (CVD). India is a leading producer of these diamonds, particularly using the CVD technology, accounting for 25.8% of its global trade in the financial year 2021-22. However, the country still depends on other nations for the supply of critical machinery components and seeds, which are essential raw materials for synthetic diamond production.
The InCent-LGD project aims to provide technical assistance to industries and entrepreneurs, promoting indigenous manufacturing of both CVD and HPHT systems. The expansion of the lab-grown diamond business is expected to have a significant impact on sectors such as jewelry, defense, optics, thermal, and medical industries. The global market for lab-grown diamond jewelry is projected to reach $5 billion by 2025 and exceed $15 billion by 2035.
It is worth mentioning that Kashmir’s Papier mache, a renowned art form involving the meticulous preparation of paper pulp and intricate painting, holds a Geographical Indication (GI) tag. This tag assures the authenticity, quality, and distinctiveness of products originating from a specific geographical territory. GI registration provides legal protection, prevents unauthorized use, and promotes exports. Famous products with GI tags include Basmati rice, Darjeeling Tea, Chanderi Fabric, Mysore Silk, and Kashmir Walnut Wood Carving, among others.
