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Feb 8, 2023 · The Ministry of Finance (MoF) in its 2023-24 Union Budget has put special emphasis on Laboratory-Grown Diamonds (LGD). Scientists working at a General Electric research laboratory in New York are credited with the creation of the world’s first-ever LGD in 1954.
Feb 26, 2024 · Lab-grown diamonds (LGDs), also known as synthetic diamonds have emerged as a disruptive force in the traditional diamond market. These gems are created in laboratories using advanced techniques, mimicking the natural processes that form diamonds deep within the Earth.
Lab-grown diamonds are diamonds that are produced using specific technology which mimics the geological processes that grow natural diamonds. The diamond simulants such as Moissanite, Cubic Zirconia (CZ), White Sapphire, YAG, and others are used to make them look like natural diamonds.
Aug 11, 2023 · This comprehensive exploration navigates through the facets of Lab-Grown Diamonds, uncovering their creation, characteristics, applications, and their impact on the diamond industry. Aspiring UPSC IAS exam candidates must give utmost importance to this article.
Lab Grown Diamonds [UPSC Notes] The Ministry of Finance has prioritized laboratory-grown diamonds (LGD) in the 2023–2024 Union Budget. In this context, it is important to understand what are lab-grown diamonds?
Dec 19, 2023 · India dominates the world market for natural diamond cutting and polishing, making up over 75 percent of the total value of sales. The industry is converting to lab-grown diamonds (LGDs), which offer immense promise as natural diamond deposits are depleted.
Mar 24, 2023 · Lab Grown diamonds are made in laboratories with a seed of natural diamonds, which is a slice of another diamond – on which the LGD is created. It takes less than month to make a distinctively shaped crystal of Lab Grown Diamond.
What is the Scenario of Lab-Grown Diamonds in India? Surat: The Hub of Diamond Cutting and Polishing. Surat plays a pivotal role in the global diamond trade. Approximately 90% of the world’s diamonds are cut and polished in Surat. The Rise of Lab-Grown Diamond Exports from India.
Jul 31, 2023 · Overview. Test Series. The 2023-2024 Union Budget presented by the Ministry of Finance has brought lab-grown diamonds (LGDs) into the limelight. This article aims to elucidate various aspects of lab-grown diamonds, their significance in India, and their potential impact on the economy.
1 min read. Mains GS-III: Economy. Overview: Union Minister for Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles recently appreciated the Gujarat Government for spearheading several wide-ranging initiatives to promote the Lab Grown Diamonds Sector. About Lab Grown Diamonds: Initiatives:
