Surat: Piyush Goyal, the Union Minister of Commerce and Industry, recently held a productive interaction with stakeholders from the diamond industry in Surat. During the session, Goyal emphasized the importance of promoting the indigenous production of lab-grown diamonds to position India as a global hub for diamond manufacturing and exports.
Recognizing the evolving dynamics of the diamond industry, Piyush Goyal highlighted the need for India to embrace innovative approaches, such as the production of lab-grown diamonds, to retain its competitive edge in the global market. The meeting aimed to explore strategies and solutions that would enable India to become a frontrunner in the manufacturing and export of diamonds.
“Deliberating on ways to promote indigenous production of lab-grown diamonds is a significant step towards making India a global diamond manufacturing and export hub,” stated Piyush Goyal. He emphasized the potential of lab-grown diamonds to revolutionize the industry, as they offer a sustainable and ethical alternative to traditional mined diamonds.
The discussion revolved around various aspects, including technological advancements, research and development, investment opportunities, and policy support required to foster the growth of the lab-grown diamond sector. Piyush Goyal acknowledged the significance of collaboration between the government, industry, and research institutions in harnessing the potential of lab-grown diamonds and maximizing their contribution to India’s economy.
Promoting the production of lab-grown diamonds aligns with India’s vision of leveraging advanced technology and innovation to enhance its position in the global diamond market. The focus on indigenous manufacturing not only augments the country’s self-reliance but also opens new avenues for employment and economic growth.
Piyush Goyal expressed his confidence in the capability of Indian industry players to embrace new technologies and urged them to seize the opportunities presented by the lab-grown diamond segment. He emphasized that by tapping into this emerging sector, India can solidify its position as a leader in the global diamond industry while adhering to sustainable and ethical practices.
