{"id":7203,"date":"2022-11-02T12:03:51","date_gmt":"2022-11-02T06:33:51","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=7203"},"modified":"2025-03-28T18:50:03","modified_gmt":"2025-03-28T13:20:03","slug":"lab-grown-diamonds","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/lab-grown-diamonds\/","title":{"rendered":"Lab Grown Diamonds"},"content":{"rendered":"<h2><strong>About Lab Grown Diamonds:<\/strong><\/h2>\n<p><strong>Initiatives:<\/strong><\/p>\n<ul>\n<li>The government had brought in is that it has permitted 100 per cent foreign direct investment (FDI) in the sector under the automatic route.\u00a0<\/li>\n<li>Gujarat Government is offering 100% exemption on electricity duty for 5 years under the provisions of the electricity act.\u00a0<\/li>\n<li>According to Budget 2019-20, the GST rate has been reduced from 18 per cent to 5 per cent.<\/li>\n<li>Interest subsidy and net SGST reimbursement upto a 100% is also being offered to MSMEs, large and mega players.<\/li>\n<\/ul>\n<p><strong>Lab-made diamonds:<\/strong><\/p>\n<ul>\n<li>Lab-made diamonds are developed from a carbon seed placed in a microwave chamber and superheated into a glowing plasma ball.<\/li>\n<li>The process creates particles that crystallize into diamonds in weeks.<\/li>\n<li>The only difference between lab-grown diamond and natural diamond is that instead of digging the earth, it is created in a lab under a machine.<\/li>\n<li>This tech-based manufacturing directly cuts down the capital and labour-intensive factors of the mined diamond chain and so lab-grown diamonds cost 30-40 per cent cheaper than mined despite being 100 per cent diamond.<\/li>\n<li>There are\u00a0<strong>two types of lab-grown diamonds<\/strong>\u00a0\u2013\n<ul>\n<li><strong>CVD and<\/strong><\/li>\n<li><strong>HPHT<\/strong><\/li>\n<\/ul>\n<\/li>\n<li>India particularly specialises and leads in the\u00a0<strong>chemical vapour decomposition (CVD) technology<\/strong>\u00a0that is certified as the purest type of diamonds.<\/li>\n<li>According to the report, the Gemological Institute of America predicted the total annual sales of laboratory diamonds will be well over $100 billion in the not too distant future, from about $20 billion today.<\/li>\n<li>This segment of the diamond is growing at an annual growth rate of 15-20 per cent.<\/li>\n<\/ul>\n<p><strong>Surat: Diamond capital:<\/strong><\/p>\n<ul>\n<li>Nine out of 10 diamonds in the world are estimated to be polished in Surat.<\/li>\n<li>Currently, 25-30 per cent of diamond polishing units in Surat service lab-grown diamonds, with 15 per cent of units dealing only in the lab-created commodity.<\/li>\n<\/ul>\n<hr \/>\n<p><strong>Source :\u00a0<\/strong><a href=\"https:\/\/pib.gov.in\/PressReleseDetail.aspx?PRID=1872807\" target=\"_blank\" rel=\"nofollow noopener\">PIB<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>the High-Pressure High Temperature (HPHT) approach and the Chemical Vapour Deposition (CVD) method<\/p>\n","protected":false},"author":5,"featured_media":7204,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-7203","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/7203","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=7203"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/7203\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/7204"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=7203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=7203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=7203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}