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In April, GJEPC Will Host A Two-Day Display Of Lab-Grown Diamonds

According to him, the exports of LGD have increased by 400% in the last four years, with the majority of the diamonds going to the USA, the United Arab Emirates, and Hong Kong.
Lab-Grown Diamond

The Gems and Jewellery Export Promotion Council (GJEPC) will organize a two-day exhibition of Lab Grown polished and loose diamonds in Surat. The exhibition, named “Buyers and Sellers’, is the first such event to be organised by GJE PC for LGD.

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A two-day exhibition of lab-grown polished and loose diamonds, as well as jewellery adorned with lab-grown diamonds (LGD), will be held in Surat on April 5 and 6 by the Gems and Jewellery Export Promotion Council (GJEPC).

The expo, titled “Buyers and Sellers,” is the first of its kind that GJEPC has organised for LGD in Surat.

Vijay Mangukiya, chairman of the GJEPC Gujarat area, shared information on the event on Saturday, stating that it was the first time buyers and sellers of lab-grown diamonds and jewellery had met. We have scheduled over 30 exhibitors, including producers of cut and polished diamonds, jewellery with LGD accents, and diamond growers. Additionally, 15 customers from various regions of India will join the over 15 foreign buyers from the US, UAE, Hong Kong, and other European nations.

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GJEPC

According to him, the exports of LGD have increased by 400% in the last four years, with the majority of the diamonds going to the USA, the United Arab Emirates, and Hong Kong.

“The exports of LGD from India were approximately 430 million US dollars in 2019–20, and 1,395 million US dollars in 2021–22. During the period of April 2022 through December 2022, exports increased to 1385 million US dollars. According to Mangukiya, more than 80% of cut and polished LGD is shipped to foreign countries while just 20% is used locally.

According to Babubhai Vaghani, head of the Surat Lab Grown Diamond Association, there are about 40 lab-grown diamond growers in the city, and more than 400 diamond factories in Surat are where these diamonds are cut and polished.

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To recognise the top gem and jewellery exporters, the GJEPC founded the India Gem & Jewellery Awards (IGJA) 49 years ago. In addition to other factors, the selection criteria now take into account each financial year’s export performance, value addition, employment creation, and investment in R&D.

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