South Korea-based lab-grown diamond manufacturer KDT Diamonds has received approval from the Indian Ministry of Commerce & Industry to establish a lab-grown diamond manufacturing and polishing plant in Surat. This move marks a strategic expansion for KDT Diamonds and sets the stage for a major boost in lab-grown diamond production.
Construction of the factory, measuring 2,000 square metres in the Surat Special Economic Zone, is scheduled to commence in November 2023, with completion anticipated by March 2024. The company expects to produce 36,000 carats of lab-grown diamonds in its maiden year of operation, with plans to scale up to an impressive 100,000 carats annually in the near future.
To support its operations, KDT Diamonds will establish a local subsidiary in India and hire approximately 150 skilled professionals. Currently, KDT Diamond stands as South Korea’s sole lab-grown diamond production company. Earlier this year, the company secured a patent for a “microwave plasma CVD device for diamond synthesis.”