India, Belgium Should Partner on Lab-grown Diamond Technology: Goyal

India and Belgium should deepen their partnership on lab-grown diamonds through coordinated efforts on technological advancement and certification frameworks, Commerce and Industry Minister Piyush Goyal said on Monday.

The two countries possess complementary strengths in the lab-grown diamond sector and stand to benefit from pooling expertise, according to Goyal. Belgium, home to one of the world's largest diamond trading hubs, brings established market infrastructure and certification experience, while India has emerged as a significant player in lab-grown diamond manufacturing and export.

Goyal emphasized that developing robust certification standards and advancing production technology would be critical for both nations as global demand for lab-grown diamonds continues to expand. Such collaboration could strengthen supply chains and ensure quality benchmarks that meet international market requirements.

The minister's remarks underscore India's strategic approach to positioning itself as a reliable player in the lab-grown diamond industry, which has gained traction globally as consumers increasingly seek sustainable and ethically sourced alternatives to mined diamonds. Industry observers note that coordinated standards-setting between major players could help establish India's credentials in this rapidly growing sector.