INCREDIBLE! How China’s Synthetic Diamonds Crushed India’s $20 Billion Diamond Industry?

India's diamond industry, once the world leader in diamond processing, is now facing its most significant crisis in decades. With cities like Surat and the Gujarat region accounting for 80% of the global diamond polishing market, the industry has been a cornerstone of India's economy, supporting millions of jobs and billions in export revenues. However, the rise of China’s synthetic diamond market has drastically shifted global dynamics. By 2022, China captured over 30% of the synthetic diamond market, offering affordable alternatives that have reshaped consumer preferences.

This video explores the dramatic decline of India’s diamond sector and how China’s advancements in lab-grown diamond technology have led to this shift. From the surging popularity of synthetic diamonds, costing a fraction of natural diamonds, to plummeting natural diamond prices, we analyze the key factors behind this transformation. The impact is profound: factory closures, job losses exceeding 200,000, and wages cut by up to 50% in Gujarat’s diamond hubs. Additionally, China’s dominance in lab-grown diamond production, with Henan Province leading the charge, threatens India’s ability to recover.

We also examine global trends, such as rising lab-grown diamond sales in markets like the U.S. and Europe, where affordability and sustainability drive demand. As natural diamond exports dwindle and synthetic alternatives rise, India faces challenges to compete with China's innovative superhard materials industry.

Join us to uncover the future of the diamond market, the ongoing competition between India and China, and the potential paths for revival in India's diamond trade.

[Extra-Celestial]

China is dominating in Industrial Diamond and other Hard Materials. Bringing the cost down through economic of scales, which benefits Heavy Industry and breaks monopolies such as DeBeers.

[TaraRiverboatAdventure-zjxk]

Diamonds have been a big rip off for so long. monopoly at its core

[DanBurgaud]

On the bright side, INDIA still has their TECH SUPPORT CALL CENTERS

[rathmam]

The real diamond resell value is very low and hard to resell on the market.

[ongsengkee]

India should not worry. She can always fall back on its most glorified capability, that is, talking and talking and talking and bla bla bla. In this respect, she is the most powerful in the world.

[iamyoda]

CVD or lab created diamonds is the "same" as mined diamonds in terms of property. They are the same thing. Diamonds are not rare, the price is controlled by DeBeers.

[jutawantender]

BRAVO CHINA.
CHINA BRING PROSPERITY AND GAVE LIFE

[gunsumwong]

I am an end-user of many diamond cutting tools for tiles, steel and masonry. Diamond dust is used in such tools and China is the main supplier of such cutting discs, drill bits etc. China has made such tools widely available to the world.

Not too sure why the India cutting and polishing industry decline. I suppose synthetic diamonds still need to be cut and polished so India skill should be still in demand if it is competitive.

[zacl]

How is it only affect the Indian diamonds industry but no mentioned of the De Beers who have the world monopoly of the diamonds business.

[Malice-Towards-One-and-All]

I am wondering what will happen to Friends of Modi like Mehul Bhai and Choksi bhai diamond traders from Surat who ran away will billions of bank money . I am afraid many other friends of Modi from Surat will run away with unpaid bank loans .😢😢😢

[BrandyHeng]

Synthetic ones just as real as mined diamonds

[trendsmorrow]

No wonder..another failure of India..sad

[Gilbert-xi]

This was how natural pearl lost its value.when people start making it.

[stalkingtigerscom]

enough said with a quick google search: Yes, Chinese synthetic diamonds, also known as lab-grown diamonds, are just as hard as natural diamonds, both scoring a 10 on the Mohs hardness scale, making them equally resistant to scratches and wear and tear; the only difference is their origin, not their physical properties.
Key points:

[prameelayoganandan-gdbm]

It may have reset the real price of diamonds for luxury items . The synthetic diamonds can be used for other reasons in technology . We can still branch out out into that and capture the industry . Natural diamonds will still maintains their values .

[wss-sf]

Diamonds never had a good resale value. Was always manipulation of the public.

[stellacheng]

What happens to Amsterdam diamond polishing?

[adder]

Indians can directly import cheap Chinese cultivated diamonds from China. China is responsible for manufacturing, India is responsible for processing. win-win.

[normanwong]

People just dont want real diamonds anymore because its more expensive & lab grown diamonds are cheaper & u cant tell the difference its just the way it is

[Baruch-Hashem]

it is technological development, not just China. India can invest in this technology as well, but chasing the lab production as prices crash is foolish. Lab diamonds are 100% diamond. We no longer have to tear massive holes in the earth to make a diamond, Technological breakthroughs happen. Diamond cutters are being replaced with robots. Change is the only constant. It is tough, but you cannot stop it. Must learn new way to earn money.