Finance Minister Nirmala Sitharaman announced the government’s move to focus on lab-grown diamonds. LGDs are diamonds that are produced using specific technology which mimics the geological processes that grow natural diamonds. They are chemically, physically and optically diamond and thus are difficult to identify as “lab-grown”
Finance Minister Nirmala Sitharaman declared the government’s intention to concentrate on lab-grown diamonds during her Budget speech. The finance minister declared, “Customs duty on the seeds used in the creation of lab-grown diamonds will be cut.” She also disclosed a grant to the IITs to support the expansion of LGDs in India.
What Are Lab-Grown Diamonds?
Diamonds manufactured in a laboratory using a particular method that imitates the geological processes that give rise to real diamonds are known as lab-grown diamonds. It is difficult to distinguish LGDs as “lab-grown” because they are chemically, physically, and optically identical to diamond. They are not the same as “diamond simulants.”
While “diamond simulants” like Moissanite, Cubic Zirconia (CZ), White Sapphire, YAG, etc. are made to “appear” like diamonds, they don’t have the shine or longevity of real diamonds, making them obvious. However, separating an LGD from an Earth Mined Diamond is difficult and calls for specialised equipment.
There are numerous methods for creating LGDs. High pressure, high temperature (HPHT) is the most used (and least expensive) approach. This technique calls for incredibly powerful presses that can exert pressures of up to 730,000 psi while operating at extremely high temperatures (at least 1500 celsius).
Typically, graphite is employed as the “diamond seed,” and under these extreme circumstances, the relatively cheap form of carbon transforms into one of the most expensive carbon forms. Other processes include “Chemical Vapor Deposition” (CVD) and explosive formation that creates what are known as “detonation nanodiamonds”.
Basic LGD characteristics, including as their optical dispersion, which gives them the distinctive diamond sheen, are comparable to those of genuine diamonds. Although many of their features can be improved for a variety of uses because they are produced in controlled circumstances.
For instance, LGDs are frequently utilised in industrial machinery and tools. They are perfect for use as cutters due to their extreme hardness and added strength. Pure man-made diamonds also have a high thermal conductivity but a very low electrical conductivity. The ability to employ such diamonds as a heat dissipator for high-power laser diodes, laser arrays, and high-power transistors makes this combination invaluable for electronics.
Finally, as the world’s supply of real diamonds runs out, LGDs are gradually taking its place in the jewellery business. Importantly, LGDs go through the same cutting and polishing procedures that are necessary to give genuine diamonds their distinctive brilliance.
Thus, the established diamond industry in India, which performs these functions, is unlikely to be impacted by the expansion in the manufacture of LGDs.
India saw a huge increase in lab-grown diamond exports worth $443 million, up 102% year over year.
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