During Indian Prime Minister Narendra Modi’s three-day state visit to the United States of America, he gave US President Joe Biden and First Lady Jill Biden multiple gifts, however, the most interesting one was a 7.5 carat lab-grown, eco-friendly diamond gifted to the first lady. The diamond was manufactured in Surat, India, also known as the diamond capital of the world. It was placed in an exquisitely handcrafted Kashmiri papier-mâché box. 

Why is this significant?

India is now becoming the largest supplier of Lab Grown Diamonds and wants to promote their acceptance. This is significant because lab grown diamonds come with the identical physical and chemical properties as natural mined diamonds but without the extensive carbon footprint and environmental impact. At the core of India's endeavor to emerge as a global leader in the production of lab-grown diamonds (LGD) lies the commitment to the synthetic alternative. This innovative approach not only boasts a significantly reduced carbon footprint compared to mined diamonds but is also regarded as "conflict-free." 

As per India Today, the diamond presented to the Bidens generated only 0.028 grams of CO2 per carat during production, marking a staggering over 100,000 times reduction in emissions per carat compared to the average mined diamond production and is certified by the Gemological Lab, IGI (International Gemological Institute). 

What are Lab Grown Diamonds?

Lab-grown diamonds, also known as synthetic or cultured diamonds, are created through advanced technological processes that replicate the natural conditions under which diamonds form in the Earth's mantle. These diamonds share the same physical, chemical, and optical properties as mined diamonds. The two primary methods for producing lab-grown diamonds are High-Pressure High-Temperature (HPHT) and Chemical Vapor Deposition (CVD).

In the HPHT method, diamond seeds are subjected to high pressure and temperature, mimicking the natural diamond-growing process. In the CVD method, a diamond seed is placed in a chamber where carbon-rich gases are ionized to deposit carbon atoms, gradually forming a diamond crystal.

Lab-grown diamonds mirror the physical and chemical characteristics of natural diamonds, showcasing identical brilliance, clarity, and durability. The controlled environments in which they are cultivated contribute to fewer impurities compared to their naturally occurring counterparts. This precision in growth conditions makes it challenging for even experts to distinguish between a lab-grown and a natural diamond without the aid of specialized equipment. The inherent similarities underscore the remarkable quality and authenticity of lab-grown diamonds, reaffirming their status as a compelling and virtually indistinguishable alternative to mined diamonds.

Lab-grown diamonds are priced based on factors such as carat weight, cut, color, and clarity, similar to mined diamonds. However, they often come at a more affordable price point due to the controlled and efficient manufacturing process, making them an appealing option for those seeking ethical, sustainable, and budget-friendly choices in the world of diamond jewelry.

The environmental impact of Lab Grown Diamonds

In contrast to the environmentally impactful mining process associated with natural diamonds, lab-grown diamonds exhibit a significantly reduced ecological footprint. Traditional diamond mining often entails substantial land disturbance, habitat destruction, and water pollution. Natural diamond mining alone contributes to 6% of the total greenhouse gas emissions from industrial activities. Conversely, the production of lab-grown diamonds demands less energy and water, leading to diminished carbon emissions and environmental strain. To illustrate, the creation of 1 carat of mined diamond necessitates 126 gallons of water and contributes to over 143 pounds of carbon dioxide emissions. In stark contrast, the production of 1 carat of a lab-grown diamond requires only 18 gallons of water and possesses a carbon footprint that is five and a half times smaller.

Why are Lab Grown Diamonds considered conflict free?

A significant apprehension associated with natural diamonds pertains to their potential connection to conflict or “blood diamonds”. This concern is eradicated when opting for lab-grown diamonds. Lab-grown diamonds present an ethically sourced alternative, ensuring a transparent supply chain that avoids contributing to human rights abuses. Shockingly, 1 in every 1000 diamond mining workers sustains injuries annually. By selecting lab-grown diamonds, contemporary Indian women can make their purchases with confidence, secure in the knowledge that they are supporting responsible and fair practices within the diamond industry.

India’s role in the growing lab grown diamond industry 

From 2018 to 2021, India witnessed a remarkable surge in the dollar value of its polished synthetic diamond exports, skyrocketing from $274 million to an impressive $1.29 billion in sales. In a strategic move, India's finance minister, Nirmala Sitharaman, declared a government initiative to subsidize research and development costs within the Lab-Grown Diamond (LGD) industry. This involves providing a substantial grant to one of the prestigious Indian Institutes of Technology for a five-year period. Sitharaman emphasized the LGD sector's significance, highlighting its potential for high employment rates and the production of environmentally-friendly diamonds that mirror the optical and chemical properties of natural diamonds.

Currently, India stands as the producer of 15% of the world's LGDs, according to India's Ministry of Commerce and Industry. While China holds the lead, contributing to 50% of the global market share, India's prominence in the diamond industry positions it favorably to venture into the LGD space. Edahn Golan, a renowned diamond research and data analyst, underscores India's natural evolution into this sector, given its existing status as the premier diamond polishing center for both natural and laboratory diamonds. With approximately 90% of the world's diamonds being polished in India, the nation's foray into the growing LGD market aligns seamlessly with its established expertise in the diamond industry.

What the future holds 

Diamonds serve a multitude of purposes beyond their enchanting presence in jewelry, with a staggering 80% of the world's diamonds finding applications in various industrial uses. Renowned for their exceptional durability, diamonds play a vital role in crafting long-lasting electronics such as high-end speakers and satellites. The robust nature of diamonds makes them indispensable in dentistry tools, where their unique ability to easily drill into teeth sets them apart. Beyond these applications, diamonds are a cornerstone in numerous industrial sectors that demand materials of unparalleled strength.

Lab-grown diamonds (LGDs), priced on average 30-40% lower than their mined counterparts, present a sustainable alternative. They diminish reliance on hazardous labor practices and spare the natural habitat from the detrimental effects often associated with traditional mining. As the market evolves, the ascendancy of lab-grown diamonds is anticipated to expand, potentially democratizing access to diamond jewelry for a broader audience. According to Edahn Golan, a respected diamond research and data analyst, there is a discernible trend where the average price of lab-grown diamonds is decreasing, making them increasingly appealing to a wider consumer base. The evolving landscape suggests a future where lab-grown diamonds play a pivotal role in reshaping the consumer side of the diamond industry.