ENA Sectors 2023-02-23 18:10:45 <p><span style="font-size:14px"><strong>New Delhi, Feb 23 (KNN)</strong> Central government has decided give the research project to IIT- Madras for indigenous production of lab-grown diamonds (LGD) machinery, seeds and recipe.</span></p> <p><span style="font-size:14px">In Union Budget 23-24, a five-year research grant for one of the Indian Institutes of Technology (IITs) was announced.</span></p> <p><span style="font-size:14px"><strong><a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a></strong></span></p> <p><span style="font-size:14px">The decision has been taken after a joint determination of its capabilities by a joint committee of Government, export promotion council and Industry representatives. </span></p> <p><span style="font-size:14px">It is proposed to establish an India Centre for Lab grown Diamond (InCent-LGD) at IIT Madras with the estimated cost of Rs. 242.96 crores over 5 years.</span></p> <p><span style="font-size:14px">The Gems and Jewellery sector plays a significant role in the Indian economy, contributing around 9 per cent to Indias total merchandise export. <em><strong>(KNN Bureau)</strong></em></span></p> 32415 https://knnindia.co.in/news/newsdetails/sectors/iit-madras-selected-for-indigenous-research-of-lab-grown-diamonds-machinery 2023-02-23 18:10:45 knnindia.co.in