International Gemological Institute's Indian lab opening follows expansion moves in China, positioning gem lab leader for rapid growth in Asia's twin giant economies
HONG KONG and SURAT, Gujarat state, April 20 /PRNewswire-Asia/ -- On the heels of announcing an education partnership with Shanghai's Fudan University and participation in Shanghai World Expo, the International Gemological Institute (IGI) officially opened a 10,000 sq ft diamond grading and education facility in Surat, the world hub of diamond cutting in India's Gujarat state north of Mumbai.
On April 15, industry and government officials joined Diamond Trading Company International (DTC) CEO Varda Shine in ceremonies launching the centre in Surat's Varacha Road, the sixth such facility in India established by the world's leading independent laboratory for testing and grading gemstones and fine jewellery.
IGI operates India's only ISO/IEC 17025:2005 accredited labs.
A highly influential industry voice, Ms Shine manages the rough diamond distribution arm of the DeBeers Group. DTC is the world's largest distributor of rough diamonds, channelling 40 percent of global trade by value. "India has seen constant growth in demand for diamond jewellery over the last 10 years," she said. "With the Indian wedding business now valued at US$20 billion, more and more consumers are moving to diamond buying."
With the launch of the Surat lab coinciding with IGI's 35th anniversary, IGI Worldwide Co-CEO Roland Lorie presented Ms Shine with a special award.
Surat is an ideal locale both for establishing IGI's latest lab and training centre, and for saluting Ms Shine as the "First Lady of the Diamond World". According to the Reserve Bank of India (RBI), the city accounts for 72 percent of the world's processed diamonds and 80 percent of Indian diamond exports.
IGI established its first lab in Antwerp in 1975 and expanded from there with openings in New York (1980), Bangkok (1997), Mumbai (1999), Dubai (2000), Tokyo, Toronto, Los Angeles (all in 2001), Hong Kong (2004), New Delhi, Kolkata, Trishur (all in 2007), Tel Aviv (2009) before opening the Surat centre this month.
In essence, IGI opens quality assurance facilities wherever a diamond hub requires it, each centre reflecting IGI's commitment to provide local resources to ensure compliance with the same global standards established in Antwerp where the institute was founded.
Hong Kong-based IGI Worldwide Co-CEO Marc Brauner is responsible for ensuring uniformity procedures and standards of lab operations. "Certification and education services need to be close to users, in other words our clients," Mr Brauner said. "In effect, we act locally with a global perspective."
The new IGI facility will serve Surat's 4,000 diamond polishing factories and their over 400,000 polishers - bringing the world manufacturing hub closer to customers in America, Europe, and notably Asian markets where demand for quality gems is exploding.
Mr Brauner, recently back from launching IGI's educational partnership in Shanghai, still marvels at the growth of Asia's twin giants. "Despite global economic turbulence, which I'm happy to say is receding, IGI has been continually investing in China and India to bring its expertise in gem grading and testing," he said.
"Since 1999, when our first IGI lab was established in India, our stringent lab and education programmes have helped bring greater sophistication and quality to diamond polishing," Mr Brauner said. "I think the same case can be made for China where we have been investing heavily since 2005. Like other industry leaders, IGI has long identified China as India's twin in terms of market of growth, both in diamond consumption and manufacturing."
IGI has since participated trade shows in Shenzhen, Shanghai, Beijing, Wuhan, Qingdao, Chengdu and Guangzhou, hosting education seminars in many of these events. IGI has also mounted courses for organizations, public and private, across the country. Its agreement with Fudan University, signed just before Chinese New Year, calls for developing new gemological programs with the university's Shanghai Institute of Visual Arts. In March, IGI also announced it would be a high-profile participant at Shanghai World Expo 2010.
China became the world's No. 2 diamond market by consumption in 2009. According to the Shanghai Diamond Exchange's Joint Management Office, China's imports of polished diamonds totalled US$699m in the same year, up by 30.7% on 2008.
For Mr Brauner, the data says it all: "India and China are the future of growth for the diamond sector, both in trading and consumption."
More about IGI's Surat facility:
Loose Diamond Certification:
IGI's expert gemologists certify loose diamonds from 0.10 carat up, using state-of-the-art equipment and expertise gained from over 35 years of consistently assessing carat, weight, clarity, colour and cut of diamonds.
IGI School of Gemology:
Educational programmes at the Surat centre cover Polished and Rough Diamond Grading, Coloured Stone Identification and Jewellery Design. IGI also offers customised courses for diamond houses, retailers and jewellers on topics such as Know Your Diamonds and Retail Development.
With ISO/IEC 17025:2005 accreditation, IGI offers unrivalled technical expertise and gemological procedures in certification services. Only IGI, among India's labs, operates facilities certified at this ISO level.
About IGI:
The International Gemological Institute, the world's largest independent laboratory for testing and evaluating gemstones and fine jewellery, was established in 1975 in Antwerp and has since expanded to New York City, Los Angeles, Toronto, Hong Kong, Mumbai, Kolkata, New Delhi, Tel Aviv, Dubai, Bangkok, Tokyo, Thrissur, Dominican Republic and Surat. IGI is an ISO accredited worldwide organisation. For additional information, please visit http://www.igiworldwide.com .
Media Contact:
Rachel Chung
Assistant Manager
PR Business
Pronto Communications
Tel: +852-2540-6872 / +86-159-2155-0440
Email: prontopr@pacific.net.hk
