Lab-grown diamonds put natural gems under pressure

AFP English

Man-made gems are reshaping the $89 billion global diamond jewellery market, especially in the west Indian city of Surat where 90 percent of the world's diamonds are cut and polished.

Transcript

00:00 I would like to say there is no difference, it's the same product, it is the same chemical,

00:15 same optical properties as a mine diamond and a lab-grown diamond.

00:19 So that is the reason, so there has not been a mass kind of a marketing campaign for this

00:24 product as of now.

00:25 But I like to believe that this product speaks for itself.

00:53 I believe this is the future and this jewellery industry is also of this lab-grown diamond

00:58 is just the beginning.

01:00 Because right now we've captured only the low hanging fruits in diamond industry, of

01:06 the jewellery industry, right?

01:08 But the potential is endless.

01:10 In the last two years, the diamond industry has been in a bad situation, especially due to the situation in the US, Hong Kong and China.

01:30 The effects of Covid, the effects of the Russian war, all these effects have caused the demand

01:39 for cut and polish in the international market.

01:42 It was not there in demand.

01:47 Because it's much affordable and it doesn't look like it's an artificial, it looks like

01:52 it's a real diamond.

01:54 So that's fine.

01:55 Yes.

01:56 But you can go for a bigger size also.

01:57 That's not the issue.

01:57 [BLANK_AUDIO]

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