Page 39 - March / April 2023 : Diamond Digest Issue

Central Government for their full support in developing Lab-grown diamond sector in Gujarat. The Government's decision to abolish import duty on LGD seeds is helping to boost production and exports of LGDs from India. The LGD sector is expected to contribute 10% to the country's total gem & jewellery exports by 2025.”
Shri Kirit Bhansali, Vice Chairman, GJEPC said, “The Honourable Finance Minister announced a grant of ?243 crore to IIT Madras during the Union Budget. This funding will support research on LGDs over a period of five years, which in turn will facilitate the development of indigenous manufacturing machinery for LGDs. As a result, the sector is expected to create thousands of additional job opportunities.”
Krit Bhansali further added, “Sincere gratitude to the Gujarat Government for taking several measures to promote and enhance the LGD sector. Offering incentives such as subsidized electricity,
lowered interest rates and taxes, research and development backing, and aid for skill improvement will significantly contribute to the sector's growth and development.”
Shri Vijay Mangukiya, Regional Chairman, Gujarat said, “Surat is witnessing a phenomenal changes in the supply chain of Gem & jewellery industry. It is not only doing a backward integration by growing Rough of Diamonds but it is also doing a forward integration by establishing world class jewellery manufacturing units in Surat itself.
Shri Smit Patel, Convener, LGD Committee, GJEPC said, “The LGD industry has faced many challenges in the past as nobody understood this product and the technology was new. But as time passed we developed expertise in this field and I have seen the journey of Surat become a growers’ paradise in the past five years. Thanks to the measures taken by the Govt. to develop this sector here in Surat.”
39 • Diamond Digest • March - April. • 2023