Prime Minister Modi Gifts 7.5 Carat Lab-Grown Diamond to First Lady Jill Biden
In June 2023, a 7.5 carat lab-grown diamond, valued at approximately $20,000, became the talk of the town when Prime Minister Narendra Modi presented it to First Lady Jill Biden during his official visit to the United States. This extravagant gift marked the most expensive offering from a world leader to the Biden family, sparking discussions regarding its valuation.
The Valuation Debate
While U.S. authorities appraised the diamond at $20,000, the Indian Ministry of External Affairs suggested a significantly lower valuation, estimating it at under ₹2 lakh. Sources from the Times of India indicate that lab-grown diamonds typically range from ₹15,000 to ₹25,000 per carat, bringing the estimated worth of the diamond to between ₹1.1 lakh and ₹1.9 lakh.
The Gift Exchange
During the same visit, PM Modi also presented President Biden with several other gifts including a carved sandalwood box, a book titled ‘The Ten Principal Upanishads,’ a statue, and an oil lamp, all valued at approximately $6,232. While the First Family’s gifts have been transferred to the National Archives and Records Administration, the diamond remains ‘for official use’ in the East Wing of the White House.
Green Energy Initiative
Manufactured in Gujarat’s Surat using a process that mimics the natural formation of diamonds, this 7.5 carat gem symbolizes India’s commitment to renewable energy. Smit Patel, convenor of the Gem & Jewellery Export Promotion Council (GJEPC), noted that the diamond represents 75 years of Indian independence and is a testament to PM Modi’s advocacy for green energy.
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