Business

Surat: Government offers entrepreneurs to plan for Lebgron Diamond Industry

For the development of the CBD industry, a new policy may be announced by the entrepreneurs on the introduction of the center.

The Government of India, under the aegis of Hon’ble Union Minister of Industry and Commerce, a group of industrialists, Gem and Jewelery Export Promotion Council, Lebogron Diamond Association, officials of various departments is contemplating to formulate a plan for the development of the Lebogron diamond industry. A meeting of Gujarat State Government and Central Government etc. was called and various schemes being considered by the government were discussed.

LabGrown Diamond Association opposes imposition of duty on LabGrown Diamond

These schemes include megaparks and common facility centres, duty relief by the state government on electricity, a special policy for solar, a credit policy announced by the bank to benefit the industry, the industry can benefit. If there is a modification on the technology, then the code of CVD / HPHT should be separated, such points were discussed. Apart from this, there was also talk of imposing duty on LabGrown Diamond, which was opposed by the LabGrown Diamond Association. For this, no decision should be taken without considering SMEs and appropriate decision will be taken after meeting with small units also, the minister had suggested to the officials.

New hope of the government increasing the export of lab-grown diamonds

Babu Vaghani, president of LabGrown Diamond Association of Surat, said that the central government is very positive about the diamond industry and some important arguments have also been taken from the government. Jewelery industries in the country are also benefiting a lot because the central government is thinking of giving maximum relief to the diamond industry and we hope that some good policy will be announced by the central government in a few days.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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