Piyush Goyal, India’s minister for commerce and industry, said the government “was working aggressively” to develop both the growing and manufacturing sectors of the lab-grown industry.
According to IDEX Online, Goyal spoke to industry leaders at an event supported by the Gem and Jewellery Export Promotion Council (GJEPC). He urged them “to prepare a vision document and said he would share it with Prime Minister Narendra Modi.”
India’s LGD industry “aims to reach $5 billion of annual exports”. Last May, GJEPC Chairman Colin Shah said that the LGD industry has the potential to employ one million people to process 150 million carats of lab-grown diamonds, and achieve an export turnover of $5.14 billion in “the near future”.
