Official sources have questioned the valuation of a 7.5-carat lab-grown diamond gifted by Prime Minister Narendra Modi to Jill Biden. They suggest the actual market value is between Rs 1.1 lakh and Rs 1.9 lakh, much lower than the US state department’s assessment of $20,000, pointing out recent price drops in lab-grown diamonds.
Diamond gifted to Jill Biden would cost less than Rs 2 lakh: MEA sources
