ODISHA APPROVES ₹10,680 CRORE LAB-GROWN DIAMOND INVESTMENT CLUSTER

Odisha has approved five lab-grown diamond projects involving a combined investment of ₹10,680 crore, adding a specialised manufacturing segment to the state’s expanding industrial portfolio. The projects involve Dholakia Lab Grown Diamond, Greenlab Diamonds, Neorganic Diamonds, Nouveau Diamonds and Supreme Green Diamonds, with facilities planned across Khurda and Ganjam. The investment is significant because lab-grown diamonds represent a technology-intensive manufacturing industry that combines advanced production processes, energy systems, precision equipment and specialised skills. The projects are expected to generate thousands of jobs and could create opportunities for supporting industries ranging from industrial equipment and engineering services to logistics, packaging and technical training. Odisha has traditionally been associated with mineral extraction and metals, but the emergence of advanced diamond manufacturing indicates an effort to move further toward value-added production. Lab-grown diamonds are manufactured rather than mined, using technological processes that produce stones with characteristics comparable to natural diamonds. Their expanding commercial market has attracted investment in manufacturing capacity in several parts of India. For Odisha, the new projects could help diversify the state’s industrial base and create new opportunities for skilled workers. The success of the investments will depend on execution, market demand, access to reliable power and the development of appropriate technical capabilities. The latest approvals nevertheless show that Odisha’s investment strategy is increasingly reaching specialised manufacturing sectors rather than remaining concentrated only in traditional heavy industry.