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Shri Piyush Goyal chairs meeting on Lab Grown Diamonds; Focus on Research and Development, setting up common facilities and skilling of adequate manpower to fuel growth
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....hri Piyush Goyal chairs meeting on Lab Grown Diamonds; Focus on Research and Development, setting up common facilities and skilling of adequate manpower to fuel growth <br>News and Press Release<br>Dated:- 18-5-2022<br><BR>Shri Piyush Goyal chairs meeting on Lab Grown Diamonds; Focus on Research and Development, setting up common facilities and skilling of adequate manpower to fuel growth Project....
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....ed employment creation in the sector could be upto 25 lakh by 2025 The Union Minister for Commerce & Industry; Consumer Affairs, Food & Public Distribution and Textiles, Shri Piyush Goyal chaired a meeting with the representatives of Lab-Grown Diamonds Industry in New Delhi. Discussions on promotion of Research and Development, setting up enabling common facilities and skilling of adequate manp....
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....ower to serve this emerging sector took place. Currently, India contributes around 15% in global production of lab-grown diamonds for which it is presently self-sufficient. However, keeping in mind the future potential, there is a need to maintain technological self-reliance in production of machinery and a leadership position in production lab grown diamonds. Given India's expertise in diamond po....
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....lishing, it is imperative that India positions itself firmly in the lab-grown diamond sector too since the process of polishing are similar. The projected employment creation could be to the tune of 25 lakh by the year 2025. Lab-grown diamonds are diamonds which are grown inside a lab using cutting-edge technology that replicates the natural diamond growing process and the result is a man-made di....
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....amond that is chemically, physically, and optically the same as those grown beneath the Earth's surface. Lab-grown diamonds can be created by two processes - High Pressure High Temperature (HPHT) which is used in China and Chemical Vapor Deposition (CVD) which is used in USA and India. Besides jewellery industry, lab-grown diamonds are also used in computer chips, satellites, 5G networks as they ....
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....can be used in extreme environments as it has potential to operate at higher speeds while using less power than the silicon-based chips. Like natural diamonds, India has proved its leadership role in the cutting and polishing of lab-grown diamonds. India's exports of polished lab-grown diamonds were USD 274 million, USD 473 million, USD 637 million and 1293 million during 2018-19, 2019-20, 2020-2....
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....1 and 2020-21 respectively. Annual growth during the same periods were 72%, 35% and 103%. India exports polished Lab Grown diamonds to USA, Hongkong, UAE, Israel and Belgium etc. USA accounts for around 67% of India's exports followed by Hongkong with a share of 14%. Shri B.V.R Subrahmanyam, Secretary and Mr Vipul Bansal, Joint Secretary were present in meeting. Industry was represented by Mr ....
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....Colin Shah, chairman GJEPC, Mr Sabyasachi Ray, Executive Director GJEPC, Mr Samir Joshi Executive Director Indian Diamond Institute Surat, Mr Pramod Agarwal, chairman National Gem & Jewellery Council of India and other Industry representatives.<BR> News - Press release - PIB....