Diamond is a solid form of the element carbon with its atoms arranged in a crystal structure called diamond cubic. At room temperature and pressure, another solid form of carbon known as graphite is the chemically stable form, but diamond almost never converts to it. Diamond has the highest hardness and thermal conductivity of any natural material, properties that are utilized in major industrial applications such as cutting and polishing tools.Some 147 million carats of diamonds were estimated to have been produced from mines worldwide in 2018. Major producing countries include Australia, the Democratic Republic of Congo, Botswana, South Africa, and Russia. Worldwide reserves are estimated to be some 1.2 billion carats. Russia has the largest reserves, estimated at some 650 million carats.

Indian Diamond IndustryIndian Diamond Industry is mainly involved with cutting, polishing and exporting diamonds. Diamonds cut and polished in India are universally prized, and India has emerged as the largest diamond-cutting centre in the world.Mumbai, Surat, Ahmedabad, Bhavnagar and many small towns in Gujarat are the main polishing centres of the country.The Indian diamond industry is again at the doorstep of expansionCreating the Export Promotion Zones (EPZ) and Special Economic Zones (SEZ) in order to help and promote the export of gems and jewellery from the country is undoubtedly a new step for the betterment of the industry.