IGI expands LGD certification amid industry shifts
It already has a laboratory and certification centre in Varachha.
IGI's revenue rose 16% in the first quarter of FY 2025, with LGD certification showing the highest growth at 24% year-on-year. Profit after tax surged 63%, reaching Rs 1,265 crore compared to Rs 778 crore in the same period last year. "We're seeing strong growth across all segments and are bullish about expanding further," said Tehmasp Printer, MD and CEO, IGI.
"Our focus remains on both lab-grown and natural diamonds.
"
In line with this strategy, IGI is setting up a new certification facility in Surat's Hira Bourse, Ichhapore, complementing its existing centre in Varachha. The move comes amid a sharp rise in LGD exports, which jumped from 7.81 million carats in FY 2023–24 to 15.29 million carats in FY 2024–25.
Earlier this year, the Gemological Institute of America (GIA) announced it would discontinue the traditional 4Cs—cut, colour, clarity, and carat—for lab-grown diamonds (LGDs), opting instead for broader "premium" and "standard" categories.
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Meanwhile, HRD Antwerp decided to exit LGD certification altogether. In contrast, IGI continues to certify both lab-grown and natural diamonds using the traditional 4Cs — cut, colour, clarity, and carat.
In addition, it has introduced 'Light Performance Analysis,' a scientific evaluation that measures how a diamond interacts with light. The tool offers deeper insight into key visual attributes—brightness, fire, and contrast—that collectively define a diamond's true sparkle.
"Certification is an integral part of knowledge. We provide knowledge and information. Certification is a critical part when consumers buy a product like a diamond.," said Printer, asserting that independent certification adds value, especially amid falling LGD prices and growing interest in self-certification.
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