Diamond made in lab nirmala sitharaman announced in budget 2023 for this sector growth know how to make | Diamonds are not being prepared in the coal mine but in the lab, this is the way to make it, announced in the budget

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Photo:FILE Focus on increasing the business of diamonds being prepared in the lab

Nirmala Sitharaman Lab Diamond: The government has announced a reduction in duty on import of ‘seeds’, used as raw material for lab-grown diamonds. Presenting the Budget for the financial year 2023-24 in Parliament, Finance Minister Nirmala Sitharaman said that India has become a global center for cutting and polishing of natural diamonds and currently contributes three-fourth of the global trade in terms of value. With the decline in natural diamond reserves, the diamond industry is now turning to laboratory grown diamonds (LGDs) which hold great potential. To take advantage of this opportunity, it is proposed to reduce the basic import duty on seeds used in the manufacture of LGD.

Traders were demanding this for a long time

Gems and jewelery exporters have been demanding the government for a long time to reduce import duty on artificial diamond raw materials. Traders associated with this industry say that increasing the use of lab-made diamonds will reduce their cost and create a profitable option. Artificial diamonds are produced in laboratories with the help of advanced technology. In this, a seed is used as a raw material.

How is diamond prepared in the lab?

So far many people only know that diamonds are not produced. It is extracted from the diamond mine. You will be surprised to know that humans have developed such a technology, which prepares diamonds in the lab. Such diamonds are called lab grown diamonds. Diamonds are formed when many carbon molecules are combined at high temperature and high pressure. Diamond is also made from human tissue. Because carbon is needed to make diamonds and all the living beings in the world are made of carbon. This is the reason why diamond is prepared in the lab by depositing carbon from the bodies of dead organisms.

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