Latest news with #InternationalGemologicalInstitute
Time of India
20 hours ago
- Business
- Time of India
IGI expands LGD certification amid industry shifts
Surat: As global gem labs rework their approach to lab-grown diamond (LGD) certification, the International Gemological Institute (IGI) is doubling down on infrastructure and outreach — reporting strong financial performance and expanding its footprint in India's Diamond City by setting up a new facility in Surat Hira Bourse, Ichhapore. 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. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Here's The Average Price of Gutter Protection For 2500 Sq Ft House LeafFilter Gutter Protection Learn More Undo 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.
Time of India
13-06-2025
- Business
- Time of India
Roll over gold, Indians now gemming to coloured stones
Kolkata: Young Indians are increasingly opting for coloured gemstones like tanzanite, paraiba tourmaline and morganite, for studded jewellery, in a craze driven by Bollywood celebrities , as gold nears ₹1 lakh per 10 grams and natural diamonds grow pricier. India's coloured gemstone market revenue is estimated to have touched $825 million in FY2025 from $770 million in FY24 and $600 million in FY2020, according to Tehmasp Printer, managing director of International Gemological Institute (India), an international coloured gemstone certification agency. "The market outlook remains bullish, with forecasts suggesting it could reach $1.9 billion by 2033, driven by an increase in demand. From FY2023 to FY2033, this represents a robust CAGR of around 10.5%," he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If You Eat Ginger Everyday for 1 Month This is What Happens Tips and Tricks Undo Jewellers said the popularity of coloured gemstones picked up significantly last fiscal, driven by increased awareness. "Social media posts by Bollywood celebrities in coloured gemstones are helping the industry a lot," said Alok Sonkhiya, president of the Jewellers Association Jaipur. "And also, the rising gold prices , to some extent, are fuelling the growth of gemstone-studded jewellery as the gold content is less." Live Events Studded jewellery is made in more affordable 18 and 14-carat gold, unlike plain gold jewellery, which needs 22-carat gold. While traditional favourites like emerald and ruby are still in demand, there is a clear shift towards rare and investment-grade gems like padparadscha sapphires, tsavorites, and tanzanites, according to Ramit Kapur, managing director of Gemological Science International (GSI), a gemstone certification company. Emotional and experiential value is taking precedence over pure price comparisons with diamonds, he said. GSI has experienced an increase in the submission of coloured gemstones for certification. "The increase has been over 50% higher in FY25 than FY24, and it's not just the traditional big three - ruby, emerald, and sapphire," Kapur said. Prices of a carat of these coloured gemstones vary widely from as low as ₹1,000 to ₹1 lakh and more, depending on quality and clarity. Paraiba tourmaline, one of the most priced gemstones, costs as high as ₹5 lakh per carat. Natural diamonds cost ₹2.5-3 lakh a carat. Globally, too, the coloured gemstones market is also on an upward trajectory, projected to grow to $5.7 billion by 2035 from approximately $1.9 billion in 2025, exhibiting a CAGR of 11.3%. The gemstone industry is witnessing a recovery in demand after suffering huge losses during the pandemic in 2020. This shift in demand is driven by various factors including growing influence of social media, middle-class aspirations for a luxurious lifestyle, and rising living standards, explained a senior executive from Gem & Jewellery Export Promotion Council who requested not to be identified. Coloured gemstones are largely imported from different parts of Africa and Brazil and are cut and polished in Jaipur. There are more than 10,000 cutting and polishing units in Jaipur, which employ more than 300,000 people.
India Today
05-06-2025
- Business
- India Today
Lab Grown Diamonds set to lose 4Cs certification; will buyers really bother?
Would you buy a diamond if it did not have the 4Cs certification? The natural diamond industry, crumbling under the onslaught of technology-driven Lab Grown Diamonds (LGDs), is certainly hoping you wouldn' a desperate bid to deter consumers from buying tech-driven diamonds, which have flooded the market at a third of the price of natural diamonds, the Gemological Institute of America, one of the world's leading diamond grading agencies, has announced it will no longer use its internationally recognised 4Cs grading system for laboratory-grown beginning later this year, lab-grown diamonds submitted to the GIA will receive simplified descriptors—categorised broadly as either 'premium' or 'standard', or no grade at all if the quality is value of diamonds is decided on the basis of the 4 Cs—colour, clarity, cut and carat weight. There are several grading agencies the world over, of which the GIA, International Gemological Institute (IGI) and Hoge Raad voor Diamant (HRD) are the most respected. The latter two particularly hold weight in Europe and Asia while the GIA has global acceptance. The decision to discontinue the grading for LGDs is meant to emphasise their difference from natural diamonds. Henry Smith, head of sales at the Institute of Diamonds, a part of the De Beers Group, said the GIA's move is more than a simple nomenclature change. 'The GIA's adoption of a distinct grading framework for LGDs is a significant advancement in safeguarding the gemological integrity of the diamond industry. Natural diamonds are rare geological treasures formed under immense heat and pressure over billions of years. Applying the same 4Cs grading system to lab-grown synthetics, which are produced in a matter of weeks in controlled environments, can lead to misinterpretation of value and rarity. The GIA's move supports a more accurate and transparent classification system that aligns with the scientific and commercial realities of the two products,' explained the past two years, the global natural diamond market has seen an unprecedented 30 per cent correction in prices, driven by slowdown in sales, partially due to Covid-triggered economic slump. There is a glut of inventory while the demand is sluggish as new and low to medium-end buyers are shifting to natural diamond industry has been flummoxed about how to respond to this disruptor technology, which is threatening to uproot the centuries-old, billion dollars' worth of diamond mining, trading, polishing and uber premium jewellery sales industry. As a consequence, major diamond polishers and exporters in the Surat hub have reduced by more than half the wages and work hours of hundreds of thousands of artisans. This has created a socio-economic humanitarian crisis in Surat, where nine of every 10 diamonds sold the world over are Bhansali, chairman of the Gem and Jewellery Export Promotion Council (GJEPC), India's apex jewellery trade body, said the GIA's decision to use descriptive terms instead of the 4Cs grading for LGDs is an important evolution in diamond classification. 'This will help eliminate confusion by clearly distinguishing how lab-grown diamonds are assessed, separate from the standards developed for natural diamonds. For India, as a leading hub for both natural and lab-grown diamonds, this change brings much-needed clarity and balance to the marketplace—allowing both categories to grow with greater transparency, integrity and consumer confidence,' he producers in India are disappointed but not particularly perturbed by the GIA's decision. 'We will approach other grading agencies—for instance, IGI—to certify our product and take our business there. For the domestic market, Indian grading agencies such as the Gemological Institute of India (GII) will gain traction,' said Shashikant Shah, chairman of the LGD Council of India. He added that this move exposes the panic seeping into the natural diamond industry as they are desperate to reverse the global slide in prices of natural diamonds and clear their inventory worth hundreds of crores of to India Today MagazineTrending Reel
Time of India
28-04-2025
- Time of India
Project Sugamya to improve accessibility for disabled passengers at Palakkad Railway Station
Mangaluru: In a significant step towards further enhancing travel accessibility for persons with disabilities and reduced mobility, Palakkad Railway division on Monday launched Project Sugamya – Breaking Barriers at Palakkad Railway Station . This initiative, supported by the Swarga Foundation in collaboration with the International Gemological Institute (India), was formally inaugurated by Arun Kumar Chaturvedi, divisional railway manager, Palakkad. Indian Railways has consistently endeavoured to improve infrastructure and services for differently-abled passengers. Facilities such as lifts, designated ramps, accessible toilets, and wheelchair services are already available across many stations in the division. The launch of Project Sugamya is another initiative by introduces mobile ramps and customised wheelchairs to make rail travel even more barrier-free and dignified. As part of the project, 24 lightweight mobile ramps and 24 specially designed wheelchairs were formally handed over for deployment across 20 major stations in the Palakkad division. The stations include Palakkad Junction, Nilambur Road, Pollachi Junction, Ferok, Vadakara, Tanur, Kasaragod, Kanhangad, Payyanur, Thalassery, Shoranur Junction, Ottappalam, Kuttippuram, Pattambi, Mangaluru Central, Mangaluru Junction, Kozhikode, Parpanangadi, Kannur, and Tirur. These mobile ramps will facilitate seamless boarding and alighting from coaches, while the customised wheelchairs will support safe and independent movement within the station premises and inside trains. Speaking at the event, Arun Kumar Chaturvedi said, "The addition of mobile ramps and customised wheelchairs will provide greater convenience, safety, and independence to our differently-abled passengers."
The Hindu
28-04-2025
- General
- The Hindu
Palakkad Division introduces lightweight mobile ramps and specially designed wheelchairs at major stations
Palakkad Division of Southern Railway on Monday, April 28, launched Project Sugamya – Breaking Barriers at Palakkad Railway Station. As part of the project, 24 lightweight mobile ramps and 24 specially designed wheelchairs were formally handed over for deployment across 20 major stations in the Palakkad Division, including Mangaluru Central and Mangaluru Junction, said a release. The initiative, supported by the Swarga Foundation in collaboration with the International Gemological Institute, India, was inaugurated by Divisional Railway Manager Arun Kumar Chaturvedi. The Division said Indian Railways has consistently endeavoured to improve infrastructure and services for differently-abled passengers, with Palakkad Division being at the forefront of these efforts. Facilities such as lifts, designated ramps, accessible toilets, and wheelchair services were already available across many stations. The launch of Project Sugamya further strengthens these initiatives by introducing mobile ramps and customised wheelchairs to make rail travel even more barrier-free and dignified, the release said. The mobile ramps would facilitate seamless boarding and alighting from coaches, while the customised wheelchairs would support safe and independent movement within the station premises and inside trains, it said. Mr. Chaturvedi said 'The addition of mobile ramps and customised wheelchairs will provide greater convenience, safety, and independence to our differently-abled passengers. We appreciate the contributions of Swarga Foundation and IGI India towards making this vision a reality.'
