<h1>IIT Madras receives Rs. 242.96 crore grant to boost indigenous production of lab-grown diamonds and machinery.</h1> A five-year research grant has been allocated to IIT Madras to promote the indigenous production of lab-grown diamonds (LGD) machinery, seeds, and recipes. This initiative, with a budget of Rs. 242.96 crores, aims to establish the India Centre for Lab Grown Diamond (InCent-LGD) at IIT Madras. The project, endorsed by a committee led by the Commerce Secretary and approved by the Commerce Minister, seeks to enhance the domestic manufacturing of Chemical Vapour Deposition (CVD) and High Pressure and High Temperature (HPHT) systems. This effort is expected to boost employment, exports, and economic growth in India.