Lab Grown diamonds expo to be held in Surat on April

SURAT: A two-day exhibition of Lab Grown diamonds is being organised by the Gems and Jewellery Export Promotion Council (GJEPC) in Surat from April 5.

The exhibition, named “Buyers and Sellers”, is the first such event to be organised by GJEPC on Lab Grown polished and loose diamonds, and jewellery studded with Lab Grown Diamonds (LGD).

Speaking about the event, GJEPC Gujarat region chairman Vijay Mangukiya on Saturday saidl, “This is the first buyers and sellers meet for lab grown diamonds and jewellery items. We have fixed over 30 exhibitors which includes diamond growers, cut and polished diamonds and LGD studded jewellery manufacturers.”

As per reports, over 15 buyers from abroad including the US, UAE, Hong Kong, European countries are set to participate in the event. 15 buyers from across India will also attend the event.

In the last four years, the exports of LGD had gone by 400 percent and majority of the diamonds are exported to USA, UAE, and Hong Kong, he said.

“In 2019-20, the exports of LGD from India was worth 430 million US Dollars, and in 2021-22, it has gone up to 1,395 million US dollars. Between April to December 2022, the exports had gone up to 1385 million US Dollars. Over 80 percent of cut and polished LGD are exported abroad while 20 percent are locally consumed,” Mangukiya said.

Surat Lab Grown Diamond Association president Babubhai Vaghani said that are around 40 lab grown diamond growers in the city while these diamonds are cut and polished in over 400 diamond factories in Surat.

Courtesy: KNN