Budget 2023: push for making this special type of diamonds in India. Watch FM Nirmala's plan

Updated : Feb 03, 2023 12:03
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Editorji News Desk

Finance Minister Sitharaman in her Budget 2023 speech announced a provision of research grant for indigenous diamonds.

She said that an IITian will be provided research funds for five years for developing home-grown diamonds.

"Lab-grown diamonds is a technology and innovation-driven energy-driven sector with high employment potential," the FM said.

Sitharaman's statement read, "The government will provide R&D grant to one of the IITs to encourage indigenous production of lab-grown diamonds in a bid to reduce imports."

She also added that customs duty on lab-grown diamonds would be reduced

Also watch: Budget 2023: 'saptarishi guide in amrit kaal' - FM Nirmala Sitharaman lists 7 priorities in 2023-24

SitharamanBudget 2023

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