“Government Endorses Lab-Grown Diamonds as Ethical and Sustainable Alternatives”
During her Budget speech, Finance Minister Nirmala Sitharaman announced the government’s move to focus on lab-grown diamonds. “Customs duty on the seeds used in lab-grown diamond manufacturing will be reduced”, announced the finance minister. She also announced a grant to IITs to facilitate the growth of LGDs in India.
Lab grown diamonds
Colorful diamonds:
Diamonds come in different colors, not just white. Impurities in the diamond can cause it to appear blue, red, orange, yellow, green, or black. Green diamonds are the rarest and are highly sought after. Diamonds are a pure form of carbon and when heated in an oven to 763 degree Celsius, they turn into carbon dioxide with no ash left behind.
How are lab-made diamonds produced?
Lab-made diamonds are made by creating high temperature and pressure in a laboratory to tightly compress carbon molecules. The result is a diamond-like appearance.
Advantages of indigenously produced diamonds:
The diamond industry will greatly benefit from having an indigenous lab in the country, eliminating the need for importing equipment. This is why the Finance Minister has announced grants to IITs to promote the production of lab-made diamonds in the country. With the help of IITs, the technical support required to make these labs will be provided.
