JOIN USGovt is betting on lab-grown diamonds, but what are they?
Lab-grown diamonds, it appears, are the Union Budget's best friend. The government on Wednesday proposed a cut in import duty on seeds used to make lab-grown diamonds with a view to boost domestic manufacturing.
But what are lab-grown diamonds and how are they different from the real thing? DH explains.
First, what are lab-grown diamonds?
As the name suggests, lab grown diamonds (LDGs) are diamonds that are created in a laboratory setting as opposed to natural extraction.
Just as mined diamonds are generated by nature over millions of years as a consequence of extreme heat and pressure, LGDs are subjected to advanced technological processes that mimic the conditions under which natural diamonds are formed in the Earth. The only difference is that the latter takes mere weeks.
These diamonds are often referred to as “synthetic diamonds” or “cultured diamonds.”
How are they created?
As per a press release by the Ministry of Commerce & Industry, lab-grown diamonds can be created by two processes - High Pressure High Temperature (HPHT), which is used in China, and Chemical Vapor Deposition (CVD), which is used in USA and India.
Both of these processes begin with what's known as a “diamond seed”, i.e, a single crystal diamond in a slice.
In the HPHT process, the seed, along with pure graphite carbon, is exposed to temperatures around 1,500 degrees Celsius and extremely high pressure. While, in the CVD process, the seed is heated to around 800 degrees Celsius inside a sealed chamber filled with a carbon-rich gas. The gas sticks to the seed and gradually builds into a diamond.
The world’s first-ever lab-grown diamond was created in 1954 by scientists working at a General Electric research laboratory in New York.
Natural vs artificial diamonds
LGDs are virtually indistinguishable from mined diamonds. They have the same chemical, physical, and optical properties as mined diamonds. However, lab-grown diamonds are a more ethical option. For one, there’s no mining involved.
Moreover, the only energy requirement in creating LGDs is a specific amount of electricity. Most brands, however, grow these stones using renewable energy, leaving behind zero emissions.
Lab-grown diamonds also consume significantly less water per carat than mined diamonds and have lower carbon emissions.
Demand for the diamond
Besides the jewellery industry, lab-grown diamonds are used in computer chips, satellites, 5G networks as they can be used in extreme environments due to their potential to operate at higher speeds while using less power than the silicon-based chips.
With lab-grown diamonds there is no cap on supply unlike its mined counterpart, something that makes them more affordable.
Future of lab grown diamonds looks bright
India contributes around 15 per cent in global production of lab-grown diamonds for which it is presently self-sufficient, as per the Ministry of Commerce & Industry.
India’s exports of polished lab-grown diamonds were $274 million, $473 million, $637 million and $1.29 billion during 2018-19, 2019-20, 2020-21 and 2020-21, respectively. Annual growth during the same periods were 72 per cent, 35 per cent, and 103 per cent, respectively.
However, keeping in mind the future potential, there is a need to maintain technological self-reliance in production of machinery and a leadership position in production lab grown diamonds.
Given India’s expertise in diamond polishing, it is imperative that India positions itself firmly in the lab-grown diamond sector too since the process of polishing are similar. If pursued correctly, the projected employment creation could be to the tune of 25 lakh by the year 2025.
(With agency inputs.)