The Surat Diamond Bourse (SDB) is on track to become the world’s preeminent center for CVD  lab-grown diamonds within two years, according to Gujarat Deputy Chief Minister Harsh Sanghavi. The shift signals an aggressive pivot in the gemstone industry as the facility targets dominance in Chemical Vapor Deposition (CVD) technology.

Roughly 1,500 offices are projected to be operational at the SDB within the next 12 months. 500 new offices are slated to open their doors over the next five months. Daily registrations at the bourse are currently averaging between 2,800 and 3,200 people, a metric officials point to as evidence of accelerating commercial momentum.

Speaking during a visit to the bourse’s Khajod campus on Saturday, Sanghavi suggested that the historic gravity of the diamond trade is shifting from Mumbai to Surat. The move is fueled by rapid infrastructure development and a growing migration of traders to the newer, sprawling complex in Gujarat.

 The regional government is positioning the SDB ecosystem. Sanghavi noted that rough diamond traders are expected to establish a presence within four months, a move intended to consolidate the entire supply chain—from raw stones to finished, polished jewelry—under a single roof.

The rise of the SDB comes as lab-grown diamonds continue to gain market share from natural stones, offering a lower-cost alternative that has found significant traction in the U.S. and European retail markets. By centering its strategy on CVD technology, Surat is betting that the future of the industry lies in the laboratory rather than the mine.