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Lab-grown diamond companies are experiencing a downturn due to low demand, as exemplified by recent events at Bhanderi Diamond, a prominent player in the lab-grown diamond business.
On Tuesday, employees of Bhanderi Diamond protested outside the company’s premises, citing three months of unpaid salaries. Police intervention was necessary to restore order. Reduced demand for lab-grown diamonds led the Association to declare a temporary halt in operations for workers. Although production resumed afterward, the accumulation of unsold inventory has led to delays in salary payments.
