By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
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![The inside of Asian Star’s facility in India. Like other large Indian diamond manufacturers, Asian Star said it is prepared to comply with the G7’s ban on Russian diamonds but noted the tighter regulations could burden smaller players. Asian Star’s diamond manufacturing facility in India](https://uploads.nationaljeweler.com/uploads/c1dc5725dd6d4d7079c9a3077ea64983.jpg)
There is a willingness to comply with new government-mandated regulations, with an insistence that they should be practical and realistic.
![The Bharat Ratnam Mega Common Facilitation Centre is one of the main features of the revamping and modernization of jewelry manufacturing operations within the special export zone known as SEEPZ in Mumbai. Bharat Ratnam, a Mega Common Facilitation Centre (CFC)](https://uploads.nationaljeweler.com/uploads/e38cda2c4091cfeb8c717deddce90e33.jpg)
The zone’s modernization will enhance and increase India’s jewelry manufacturing capabilities while aiding small and mid-sized businesses.
![Kira Diam, which bills itself as the largest grower of CVD lab-grown diamonds in the world, installed a 25 megawatt solar plant to power its growing operations. It is one of a number of Indian companies investing in the lab-grown diamond segment despite the stones’ declining price. Kira Diam solar plant](https://uploads.nationaljeweler.com/uploads/a0236e9fa2768c3ea5718a55c8f4edab.jpg)
A combination of factors is driving growth in the industry despite the precipitous drop in prices across the board.
![Diamantaires in India currently face a number of challenges when it comes to natural diamonds, including a post-pandemic decline in consumer demand. Stock image of diamonds](https://uploads.nationaljeweler.com/uploads/0cb45286b6e2b01ffec79c04f88d12b3.jpg)
Economic slowdowns, geopolitical tensions, and the rising popularity of lab-grown diamonds are clouding the outlook for mined diamonds.
![Rows of chemical vapor deposition reactors used to grow diamonds. The lab-grown diamond industry is growing in India despite the steep decline in prices for the man-made stones. Chemical vapor deposition reactors](https://uploads.nationaljeweler.com/uploads/c31a0218e6083d6e1833fd286600d953.jpg)
Some Indian manufacturers think the potential in this young, evolving market outweighs current price concerns.
![The new, $385 million Surat Diamond Bourse is scheduled to officially open in mid-December and will become the largest office building the world, surpassing the Pentagon. The new Surat Diamond Bourse](https://uploads.nationaljeweler.com/uploads/b6b586dcc2caef036f2ed8ab45b3d476.jpg)
The massive space spans 7.1 million square feet with more than 4,000 offices and 131 elevators.
![Sahyog entrance](https://uploads.nationaljeweler.com/uploads/d565bd55f4c9b51fdb96b959bda5e792.jpg)
GIA is among the supporters of a new school building for children with special needs.
![An external view of the Venus Jewel factory in India. Regarding current U.S. sanctions on Russian diamonds, Venus Jewel partner Devansh Shah said the company has been able to identify the origin of its diamonds for a number of years so it is, “easy for our customers to choose based on their preferences.” 20230315_natural diamond industry Venus facility.jpg](https://uploads.nationaljeweler.com/uploads/3fee6838151f7ea2e80db33d67f7bb4f.jpg)
The mood among diamantaires is fairly optimistic despite the challenges brought about by sanctions and a cloudy economic outlook.
![An overhead shot of a solar farm for Greenlab, a lab-grown diamond manufacturer with more than 1,000 reactors spread out among four factories in Surat. Greenlab’s Smit Patel said India’s lab-grown diamond industry has seen “explosive and exponential growth.” 20230315_LGD solar farm drone shot.jpg](https://uploads.nationaljeweler.com/uploads/df39bfd7476988872382b856daac83bb.jpg)
The mood is bullish as more companies get into the business despite the dramatic drop in lab-grown diamond prices.
![Vipul Shah is the chairman of India’s Gem & Jewellery Export Promotion Council. 20230315_GJEPC Chairman Vipul Shah.jpg](https://uploads.nationaljeweler.com/uploads/55763f1242ef1e0a2da5026105b69fd4.jpg)
Shah talks with National Jeweler about diamond demand, lab-grown, and why it’s difficult to make predictions about the U.S. market.
![An aerial view of the Dholakia Foundation’s “Mission 100 Sarovar” project, which has brought water to areas of Gujarat that have been experiencing droughts in recent years. 20230315_Dholakia Foundation water project.jpg](https://uploads.nationaljeweler.com/uploads/704a7536da6fd4440c4876ed37df409c.jpg)
Hari Krishna Exports and the Dholakia Foundation’s “Mission 100 Sarovar” aims to create 100 lakes to help revive an area of Gujarat.