Are Lab-Grown Diamonds Forever?
India was once the world’s biggest diamond supplier. It now hopes to reclaim that past — with a twist.
On June 22, 2023, India Prime Minister Narendra Modi gifted a Kashmiri papier-mâché box to U.S. First Lady Jill Biden. Within the box glimmered a 7.5-carat green diamond, a nod to India’s 75th year of Independence. Surprisingly, instead of giving a gem that countries have colonized and killed others for, Modi chose a cheaper, reportedly more sustainable alternative: a lab-grown diamond.
From the contentious Koh-i-Noor to the cursed Hope and Regent diamonds, some of the world’s most notable gems trace their roots to South Asia. And while India is responsible for 80% of diamond polishing and cutting globally, it’s no longer a major producer of the natural stone, ranking only 29th. But between 2018 and 2021, the country’s synthetic diamond exports almost quintupled, from $274 million to $1.29 billion, making it the second-largest manufacturer worldwide after China. For it to dominate the market, however, it’ll need to change centuries-old traditions.