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VAJRA INDUSTRY RESEARCH AND ACADEMIC MEET (VAIRAM) 2025 organised by GJEPC, IIT Madras inaugurated in Chennai

The Vajra Industry Research and Academic Meet (Vairam) 2025, a joint effort by GJEPC and InCent LGD IIT Madras, was officially introduced at the IITM Research Park in Chennai.

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Madras at IITM Research Park, Chennai, was unveiled by Prof. V Kamakoti, Director, IIT Madras, Prof M S Ramachandra Rao, InCent-LGD, IIT Madras, Mr. Manish Jiwani, Co-Convener, LGD Committee, GJEPC and Mr. Sabyasachi Ray, Executive Director, GJEPC among other dignitaries and industry experts.

The workshop features several panel discussions. “Beyond Gems: Next-Generation Applications of OLab-Grown Diamonds” explores LGDs’ potential in various industries beyond jewellery. “Lab-Grown Diamond Growth and Treatment Recipes and Challenges” delves into the intricacies of CVD and HPHT methods. “Diamond Quality Checks and Certification” addresses the crucial need for standardised quality control for gems, jewellery, and seeds. “Lab Grown Diamond Machines and Processing Equipment” will highlight the importance of indigenous equipment manufacturing to bolster India’s self-reliance. The workshop has drawn 150 + participants from the industry.

Key Takeaways

Diamond Quality Checks & Certification:

  • Advanced treatments challenge LGD grading and certification accuracy.
  • Key challenges: ensuring grading accuracy, standardization, and detecting undisclosed synthetics.
  • Emphasis on advanced testing methods, tech-driven grading, and industry consistency.
  • Traceability of tested items is a major issue.
  • LGDs are both supplementary and complementary to the diamond industry.
  • Mimicking natural diamond growth patterns in LGDs remains a challenge.

LGD Growth & Treatment Recipes: Key Takeaways

  • Increasing nitrogen in HPHT accelerates growth, benefiting gem-quality diamonds but not other industrial uses.
  • Focus on optimizing growth parameters, impurity control, and enhancement for superior diamonds.
  • Challenges include consistency, reducing defects, scalability, and reliance on high-purity raw materials.
  • Future focus on refining processes, improving sustainability, and enhancing research-industry collaboration.

Diamond Quality Checks & Certification (Continued): Key Takeaways

Strengthening quality assurance frameworks is essential to ensure consumer trust globally.

Grading LGDs differs from natural diamonds, especially in color; secondary reference masters needed.

Labs must assess hue saturation and intensity, not just color for LGDs.

Clarity characteristics differ due to metallic inclusions in LGDs.

Color grading challenges arise in borderline clusters where AI struggles.

LGDs are cut for perfection, unlike natural diamonds, which are cut for weight retention.

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National News

Gold Industry Proposes New Strategy To Cut Imports and Boost Local Economy

Precious Metals Refineries Forum (PMRF) Has Proposed A Two-Track System To Manage Gold More Efficiently

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Following Prime Minister Narendra Modi’s call to reduce gold imports and foreign travel, major Indian bullion and jewellery bodies have submitted a new plan to the government and the Reserve Bank of India (RBI). The strategy aims to lower the nation’s trade deficit by tapping into the estimated 30,000 tonnes of gold sitting in Indian households.

This move comes after India’s gold imports jumped 24% to a record $71.9 billion in the 2025-26 financial year, with over 721 tonnes of gold brought into the country.

The New Strategy: Two Separate Systems

The Precious Metals Refineries Forum (PMRF) has proposed a two-track system to manage gold more efficiently:

  • For Exporters: Imported gold should be strictly saved for jewellery exporters using one-year Gold Metal Loans (GML).
  • For Local Buyers: Domestic demand should be met entirely by recycling household gold. This gold would be collected from citizens, refined locally, and sold back through jewellers and retailers.

Under this plan, people who deposit their idle gold could earn 2% to 2.5% interest, while businesses taking gold loans would pay an interest rate of 3% to 4%.

Fixing Why Past Schemes Failed

Previous government gold schemes failed to gain traction primarily because they left out local jewellers and lacked a proper banking structure. Without a joined-up system, institutions faced high financial risks from changing gold prices.

To fix this, trade bodies are calling for a complete system that includes:

  • Direct involvement of trusted local jewellers. The schemes did not take off in the past because jewellers were not part of them. About 10% to 20% of family gold is held as bars or coins.
  • Strong bank backing and secure storage vaults across the country.
  • Tax incentives, such as removing the 3% GST loss when physical gold is converted into Electronic Gold Receipts (EGR), and offering income tax relief on the interest earned.

Industry Support

Industry experts say a smooth system is already possible. Collection and purity testing centres have confirmed that collected household gold can be processed within 48 hours and safely moved to secure, bank-approved vaults.

Representatives from the Indian Bullion and Jewellers Association (IBJA) recently held discussions with RBI officials to fast-track these changes.

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