Diamonds are desirable, have special meaning and are a store of financial value. Natural diamonds appreciate in value over a period of time. Lab grown diamonds or man-made diamonds production reached 6-7 million carats, and about 50-60 per cent of the production happens in China. One carat is equal to 200 mgs of diamond bricks. When these bricks are cut and polished, they yield 30,000 carats of glitter.

Internationally, diamonds are grown by two methods — High-pressure, High-temperature ( HPHT) method and chemical vapour deposition (CVD) method. China has adopted HPHT method, whereas India produces man-made diamonds by CVD method. Even the US uses this method.

China produces 3 million carats of rough diamonds a year, India produces 1.5 million carats a year.

The production cost of a CVD diamond has fallen from $4000 in 2008 to $300-$500 per carat right now.

India’s LGD: Lab Grown Diamond business is concentrated in Surat, Mumbai, Ahmedabad and Jaipur.

These diamonds are used as jewellery. There are applications in electronics, thermal management, quantum technology and magnetometry.

HTPT machines are imported in India.

IIT, Madras facilitates the research in this area.