IIT Madras Selected to Get Grant of Rs 242 Crore for Research in Lab Grown Diamonds

IIT Madras: The Indian Institute of Technology (IIT), Madras on Thursday announced that the institute has been selected for research on Lab Grown Diamonds (LGD). However, the institute will now receive a grant worth Rs 242 crore for research. As per the recent updates, the grant has been given to IIT Madras a day after Finance Minister Nirmala Sitharaman announced that a research and development grant will be given to one of the IITs.

As per the latest updates, IITM will receive the grant over a period of 5 years to undertake research on Lab Grown Diamonds (LGD). However, this research will be focussing on driving indigenization of the LGD manufacturing process, the official press release said.

IIT Madras Official Press Release  - Click Here

IIT Madras Director's View on this grant

According to the official press release, Director Prof. V. Kamakoti thanked Finance Minister Nirmala Sitharaman and said that this is the right time to set up a diamond factory in India, as diamonds have both thermal and electrical properties which makes it superior to contemporary technologies like silicon carbide, silicon and gallium nitride. 

He further added that the Indian Institute of Technology (IIT), Madras will work on producing diamond wafers suitable for electronic applications. However, this is indeed a historic moment for IITM  for being chosen for the implementation of an important project.

As per #Budget2023, @iitmadras has been selected for a #grant of Rs. 242 Crore over 5 years to undertake #research on Lab Grown Diamonds (LGD). Smt. @nsitharaman ji, Hon'ble @FinMinIndia, #GOI, announced the grant while presenting the #AmritKaalBudget on Feb 1. @EduMinOfIndia pic.twitter.com/R1E1anpffv

— IIT Madras (@iitmadras) February 2, 2023

What is Lab Grown Diamonds (LGD)?

The Lab Grown Diamonds (LGD) are generally made up of technology that replicates the geological processes that grow natural diamonds, which results in a man-made artificial diamond which grows chemically, optically and physically similar to those diamonds that are found below the earth's surface.

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