India poised to become the fastest growing market for diamonds and diamond jewellery
With largest population of millennials in the world, a report has said that India is perceived to become the largest market for lab-grown diamonds in the future.
Industry experts said around five years ago, there were only a handful of lab diamond growers but now, according to a report filed by Prabhudas Lilladher, their numbers have gone up tremendously in the last 2-3 years due to a recession in the natural diamond industry.
The global diamond industry has been facing headwinds lately while lab-grown diamonds seem to have emerged from the shadows of natural diamonds and established itself a growing footprint in the gems and jewellery industry.
Surat: Diamond capital
Certainly! Here are the key points about Surat being the largest diamond hub:
– Surat, a city located in the Indian state of Gujarat, is renowned as one of the world’s largest diamond hubs.
– The city has a rich history in the diamond industry, with a tradition of cutting and polishing diamonds that dates back centuries.
–Surat’s diamond cutting and polishing industry is globally recognized for its expertise and craftsmanship.
–The city plays a significant role in the diamond trade, especially for processing rough diamonds and transforming them into polished gems.
–Skilled artisans and craftsmen in Surat are known for their proficiency in diamond cutting, contributing to the city’s prominence in the global diamond market.
–Surat’s diamond industry has been a major driver of economic growth in the region and a critical player in the Indian economy.
–The city is particularly known for cutting and polishing smaller and lower-grade diamonds, catering to a diverse market segment.
–Surat’s diamond industry attracts traders, manufacturers, and buyers from around the world, making it an important international diamond trading center.
–The industry’s growth has also led to the development of a well-established infrastructure and support services for the diamond trade in Surat.
While these points highlight Surat’s historical significance as a diamond hub, it’s essential to consider that market dynamics can change, and new developments may have occurred beyond my last update in September 2021. Always refer to up-to-date sources for the latest information.
