The Commerce Ministry on February 23, approved the establishment of the India Centre for Lab-Grown Diamonds (InCent-LGD) at IIT Madras at an estimated cost of Rs 243 crore over the next five years.
Key points
- In Union Budget 23-24, a five-year research grant for one of the Indian Institutes of Technology (IITs) was announced to encourage the indigenous production of lab-grown diamonds (LGD) machinery, seeds and recipe.
- The aim of this project is to provide, in mission mode, technical assistance to the industries, and entrepreneurs in the country, in promote indigenous manufacturing of both Chemical Vapour Deposition (CVD) and High Pressure and High Temperature (HPHT) systems along with the recipes for expanding the Lab Grown Diamond (LGD) business at the upstream end.
- Research efforts would make the technology available for start ups at affordable cost, increase employment opportunities, increase exports of LGD thus play a significant role in fuelling India’s economic growth.
- Besides the jewellery industry, lab-grown diamonds are used in computer chips, satellites, 5G networks as they can be used in extreme environments due to their potential to operate at higher speeds while using less power than silicon-based chips. LGD has vast application in field of defence, optics, jewellery, thermal & medical industry.
About Lab-created diamonds
- Lab-created diamonds are man made diamonds that mirror natural diamonds. Because they actually consist of carbon atoms structures, lab-grown diamonds display the same chemical and optical characteristics of a natural diamond crystal produced by the geological processes of Mother Nature.
- Lab-created diamonds are made by replicating the processes that result in the creation of natural diamonds.
- Natural diamonds grow through intense heat and pressure which, over millions of years, transforms carbon atoms into beautiful and captivating gemstones we know as diamonds.
- Lab-created diamonds grow the same way, only through a man-made process that takes several weeks, not millions of years.
- Diamonds are typically produced in two ways in laboratories — chemical vapour deposition (CVD) and high pressure high temperature (HPHT).
