PM Modi Presents a Lab Grown diamond to First Lady Jill Biden-Understanding More About LGD

United States of America

Prime Minister Narendra Modi, who is on a three-day State visit to the United States, presented First Lady Jill Biden with an eco-friendly, lab-grown 7.5-carat diamond encapsulated in an immaculate Kashmiri papier-mache box.

The diamond is considered to be environmentally beneficial because it was produced using renewable energy sources such as solar and wind power. The emerald diamond is sculpted with care and precision using cutting-edge technology. The IGI (International Gemological Institute) Gemological Lab has certified that it emits only 0.028 grammes of carbon per carat.

The Indian government defined its intentions to promote the production of lab-grown diamonds (LGD) in its most recent Union Budget.

The government had previously announced the elimination of the 5% customs duty on LGD seedlings. It also authorised the Indian Institutes of Technology in Madras to receive a five-year research grant to promote the domestic production of LGD equipment, seedlings, and recipes.

More about Lab Grown Diamonds:

High Pressure High Temperature (HPHT) and Chemical Vapour Deposition (CVD) are the two processes used to grow diamonds in a laboratory.

India is one of the preeminent producers of these diamonds using CVD technology.According to estimates from the industry, India's proportion of global trade in 2021-22 was 25.8%.

However, India is reliant on other nations for the supply of essential machinery components and seeds, which are the primary ingredients in the production of synthetic diamonds.

This (InCent-LGD) initiative seeks to provide mission-mode technical assistance to the nation's industries and entrepreneurs in order to promote the indigenous production of CVD and HPHT systems and the expansion of the upstream LGD business.

In addition to the jewellery industry, lab-grown diamonds are used in computer processors, satellites, and 5G networks due to their ability to operate at faster speeds while consuming less energy than silicon-based circuits.

Applications of lab-grown diamonds:

Laboratory-grown diamonds have numerous applications in the defence, optical, jewellery, thermal, and medical industries.

The market for jewellery made from lab-grown diamonds is expected to reach $5 billion by 2025 and surpass $15 billion by 2035.

From April to December 2022-23, lab-grown diamonds that have been cut and polished will have been exported for a total of $1.4 billion. It amounted to $1.35 billion in 2021-22.

In contrast, Kashmiri papier-maché necessitates the painstaking preparation of paper fibre and naqqashi, followed by the application of intricate designs by skilled artisans.

Geographical Indication (GI) label is present.

GI is primarily a certification that verifies the geographical origin of an agricultural, natural, or manufactured product (handicrafts and industrial commodities).This is primarily due to the origin of the appellation.

The registration process for GI products includes the submission of an application, preliminary scrutiny and examination, a notice to show cause, publication in the journal for geographical indications, opposition to registration, and registration.Any association of individuals, producers, organisation, or authority created by or in accordance with the law may register. The applicant must represent the interests of the producers.

The holder of an identifier can prohibit others from using the same name.Once this designation is applied to a product, no one else may sell a similar product under that name. This certification is valid for ten years, after which it can be renewed.Other benefits of GI registration include legal protection for the product, the prevention of unauthorised use by others, and promotion of exports.

This label appears on Basmati rice, Darjeeling tea, Chanderi fabric, Mysore silk, Kullu shawl, Kangra tea, Thanjavur paintings, Allahabad surkha, Farrukhabad prints, Lucknow zardozi, and Kashmir walnut wood decorations as well.