Gujarat Finance Ministry announces centre of excellence in Surat to boost lab-grown diamonds

The ministry has also announced a funding of Rs 7 crore for small and medium-scale industries, and synthetic diamond development 

Surat: Diamond industry leaders expressed happiness over the announcement of setting up a centre of excellence for synthetic diamonds in the budget on Friday.

In his address, Kanu Desai, Finance Minister, Gujarat, announced Rs 7 crore for small and medium-scale industries, and synthetic diamond development. Gem and jewellery industry leaders claimed that they hope for more benefits in the coming days.

Considering the global slowdown, its impact on the cutting and polishing of natural diamonds is a major concern for the industry at present. “A centre for excellence will ensure the development of technology and an expert diamond manufacturing workforce,” said Vijay Mangukiya, Regional Chairman, Gem and Jewellery Export Promotion Council (GJEPC).

“In the current scenario, a housing scheme specifically for diamond industry employees is required. We hope that the government develops some scheme,” said Mangukiya.

A demand for Rs 5 crore was made for further development of the Indian Diamond Institute. However, there is no specific announcement for the same.

“It is good that Rs 7 crore has been announced by the government for the centre of excellence for synthetic diamonds. It is a good move,” said Dinesh Navadiya, Chairman, IDI, adding that we were hoping for an additional Rs 5 crore funds for the growth of IDI. “It will help the institute and industry develop a research and training base,” Navadiya added.

“It is a good move for synthetic diamond industry growth. For the jewellery industry’s growth, we have demanded a common facility centre (CFC). It will enable small jewellery manufacturers to ultimately grow the gem and jewellery industry,” said Jayanti Savaliya, President, Surat Jewellery Manufacturer Association (SJMA).

Courtesy:timesofindia.indiatimes.com