In the latest Budget speech, Finance Minister Nirmala Sitharaman emphasized on the research and development to make the LDG more competitive in the global markets.
It was also discussed as to reduce the basic customs duty on the seeds used for their manufacture.
They are produced using a specific technology that mimics the geological processes that grow natural diamonds.
They are often used for industrial purposes like in machines and tools as well as are slowly replacing the gemstone in the jewelry industry.
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