International Gemological Institute (IGI) launches a new “state of the art facility” at Varacha Road, Surat – the heart of diamond industry. IGI is a world largest independent laboratory for testing and grading gemstones and fine jewelry.

The laboratory’s inaugural day was on April 14, 2010 and Roland Lorie, CEO of IGI who is recognized as an industry leader and expert honored the inaugural. More than 400 participants joined the function including leaders from Mumbai.

Varda shine, the managing director of diamond trading company (DTC) and the world’s largest supplier of rough diamonds joined the celebration and wished IGI all success. The international gemological institute honored Varda “the first lady of the diamond world” award and expressed their gratitude for her presence.

She said India has a good growth for diamond jewelry for the past 10 years and the Indian wedding business valued at $20 billion, more consumers are moving for diamond buying. IGI set up an international gemological laboratory in India and it has taken initiative and established operations within the world’s largest diamond manufacturing centre. The purpose is to be close with the manufacturers and polishers and extend technical expertise in the art of polishing and grading diamonds.

With established full service labs in Mumbai, special economic zone (SEZ), Kolkata and New Delhi, also a satellite lab in Kerala, the industry has appreciated IGI’s valuable contribution in diamond, gemstone and jewelry certification in the past 11 years in India.

The IGI laboratory in Surat is located in Varacha Road around 10,000 sq. ft. Being a sixth move in India, IGI and the diamond industries can work together and also the IGI’s new laboratory and education services will provide convenience, smooth and hassle free one stop solution for diamond companies to certify and educate in Surat.

Surat has handful of 4,500 diamond polishing factories with 450,000 polishers which are considered to be the main diamond manufacturing centre in the world. The new facility has been launched as a step in direction to bring Surat closer to its customers, Americans, Europeans and Asians, said Lorie.

Mark Brauner, Co-CEO of IGI worldwide said “After achieving success in other Indian markets, IGI has set up a state of the art testing laboratory along with IGI’s school of gemology in Surat. Now I realized the importance of this Surat lab. The quality of work has been improved and this makes Surat the first provider of high cut diamonds to china, Hong Kong and the other southeast countries”.

The services offered by IGI Surat facility are Loose Diamond Certification and IGI School of Gemology.

The Gemological Institute of America (GIA) laboratory in Johannesburg is near to his second anniversary. The lab opened on Feb. 2008 and steadily increases the number of gemstones came in for grading each day.

Les Milner, director of GIA lab in Johannesburg says that our intake has increased nearly 200% in the last eight months. It is due to number of factors, but the most significant is that our client recognizes the high standard of grading GIA offers. Also, they said that it is easier to sell stones with GIA report.

Milner who have 30 years of experience in South African diamond industry said he is happy to be the part of GIA’s plans which provides services on global level.

Riki corthouts of millennium diamonds says that it’s pleasure to work for the past two years. Also, he said that the lab staffs are patient, knowledgeable and willing to help especially in explaining polish and symmetry.

Johannesburg staff follows the same international grading standards used in GIA labs throughout the world and operates under the same set of core principals developed to ensure objectivity and accuracy in every report issued. The grading staffs are trained at GIA’s world headquarters in 2008.

The demand for sparkling stones in countries like US, China and Hong Kong are increasing in high speed.

China imported more diamonds from foreign countries; of this 70 percent were exported from India against the financial crisis effect in the first half of 2009. The value of polished diamonds imported into china hits the record by $300 million in the first half of 2009 with an increase of 12.7 percent from previous year.

As per the provisional statistics of gems and jewellery export promotion council (GJEPC), the export in the month of Feb. 2010 were increased by 54.96 percent at US $2,252 million compared to US $ 1,453 million in 2009. About 60 percent of the diamonds were imported to the key destinations like china and Hong Kong.

China becomes an important market for India, especially for diamond manufacturing center in Surat. The senior functionary of gems and jewellery export promotion council (GJEPC) says that china becomes the world’s largest consumer of all jewellery including diamonds.

A recent analysis on global diamond jewellery demand by senior analyst Des kilalea with world’s top investment bank RBC capital markets in Canada, china will double its share of global diamond jewellery demand by 2015 by 16 percent. Also, it becomes the second largest diamond consuming market only after US account for about 40 percent of the total diamond jewellery demand in the world.

China’s strong position in the global diamond jewellery market, kilalea said the cities in china absorb an increase amount of rural migrants which results in increased amount of wealth. It surely increases the demand for diamonds particularly for engagement rings. Japan has been overtaken by china in the precious stone segment and the eagerness of Chinese brides to have diamonds in their wedding bands has helped prices of diamonds to recover after a terrible 2009.

Another important diamond trading made last month i.e. Cullinan Heritage Diamond, a whopping 507 carat precious stone was sold for $35.5 million to Chow Tai Fook, an Asian jewellery chain based in china.

The Hong Kong international jewellery show was a great success. The demand for diamond jewelry was great in china, India and other Asian countries said Bharat Gosai a leading manufacturer in the city.

The Antwerp World Diamond Centre announced Mumbai as the next location for an Antwerp Diamond Day. The workshop and networking event will be held on March 25th. It is considered that the Antwerp diamond day will be the highlight of the economic trade mission to be led by HRH prince Philippe of Belgium from March 20 – 27. Antwerp world diamond center CEO Freddy J. Hanard gives an overview about Belgian diamond trade and what it can offers to Indian businesses.

Dr. Jef Van Royen senior research scientist at HRD Antwerp Research will speak about the theme of “Science Supporting Confidence in Diamonds”. Werner Van Der Cruyssen, Customs Attache at Belgian embassy in India will speaks about custom formalities.

The workshop and networking event includes two and a half hour networking session for Belgian and Indian diamantaires. It will be followed by a reception in the presence of HRH Prince Philippe.

The world’s top governing bodies has disclosed the global method of colored gemstone treatment disclosure. The International Colored Gemstone Association (ICA), the World Jewellery Confederation (CIBJO) and the American Gem Trade Association (AGTA) have agreed the global system of coding at the last month meeting in Tucson, Arizona, USA.

AGTA and ICA have used two different disclosure codes and the resolution in Tucson gives the industry its first worldwide set of guidelines. All three institutions have decided to implement the AGTA’s disclosure codes for colored gemstones.

The AGTA code states that “It is practical and appropriate to disclose the gemstone treatment rather than keeping silent when there is a possibility of treating the gemstone”. Also, it offers specific advice to retailers that “When disclosing to retail consumers, all required disclosure should be made in plain language. The codes or abbreviations are not enough”.

Any traditional process rather than cutting and polishing used to improve the (color, clarity, phenomena) appearance, durability or availability of a gemstone. The colored gemstone treatment code will not be listed in CIBJO gemstone blue book.

For more information Visit AGTA website – http://www.agta.org/gemstones/agta-gim/index.html