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The State Bank of India (SBI), the country’s largest private lender, has designed a policy to fund lab-created diamond manufacturers in what may prove to be a major step forward for the emerging industry.
With the crisis in Ukraine causing significant issues to the international supply of natural diamonds, the door has been opened for lab-grown diamonds to capture a larger share of the market. SAMUEL ORD investigates the circumstances leading to this opportunity and speaks with retailers about consumer preferences.
The technology for lab-created diamonds has officially arrived – heralded by companies like Gemesis Diamond Company – and although presenting new opportunities for the jewellery industry, it also raises a number of ethical and control issues.
Diamond Foundry, a US company manufacturing lab grown diamonds in California, has announced it will take legal action against the United States Trade Office.
Owing to the rise of synthetic diamonds, the trade in fancy colour stones is no longer clear cut, writes Dr Thomas Hainschwang.