India's lab-grown diamond industry faces falling prices, competition, and lack of clear regulations, prompting the GTRI to recommend government intervention.

India's lab-grown diamond industry faces challenges, including falling prices by 65% in the past year due to increased competition and a lack of clear regulations. The Global Trade Research Initiative (GTRI) suggests the government addresses these issues by issuing a Quality Control Order for imports, investing in R&D, and providing clear guidelines for quality certification and market practices. This would help the industry regain consumer trust and sustain its growth potential.