Chennai, Feb. 2 -- The Union Government has chosen the Indian Institute
of Technology-Madras (IIT-M) for undertaking a research on Lab Grown
Diamonds (GDs) and will provide a grant of Rs. 242 crore over a period of five
years.
This research will be focused on driving indigenization of the LGD manufacturing
process.
Presenting the Union Budget-2023 Finance Minister Nirmala Sitharaman "LGD
is a technology and innovation-driven emerging sector with high employment
potential.
These environment-friendly diamonds have optically and chemically the same
properties as natural diamonds.
To encourage indigenous production of LGD seeds and machines and to reduce
import dependency, a research and development grant will be provided to one ...