IGI’s CEO Tehmasp Printer confirmed that the lab‑grown diamond sector could grow up to 50 times its present size, according to government estimates. The certification body, which pioneered lab‑grown diamond grading, now manages the entire process inside India—from growth to polishing to certification.
The firm has integrated artificial‑intelligence and machine‑learning models to scale its grading throughput. Printer noted that these models complement human expertise and enable the handling of higher volumes, a response to the sector’s rapid expansion.
IGI’s customer base is dominated by Gen‑Z and Millennials, who form roughly 50‑55% of its users. This demographic is reportedly more informed about the origin of their purchase, driving a shift toward lab‑grown stones.
In the United States, 54% of all bridals were lab‑grown last year, a statistic that underscores a broader consumer pivot. While natural diamonds remain scarce and command a premium, lab‑grown stones thrive on manufacturing capacity rather than geological limits.
The full value chain advantage—India cutting and polishing nine out of ten natural diamonds—positions the country as a potential leader in lab‑grown production. Companies involved in the supply chain, from raw material suppliers to jewelry designers, may see heightened demand.
Forward outlook: IGI is expanding its grading infrastructure to meet expected volume growth. Investors should monitor regulatory developments and the pace at which new entrants leverage the full value chain, as these factors could shape the sector’s trajectory.