While the US remains the largest market, India is rapidly catching up. IGI currently polishes, cuts, and certifies around 80% of all lab-grown diamonds in India. Printer highlighted that lab-grown jewellery is reaching second- and third-tier cities, making diamond ownership more accessible to a broader demographic.
He also addressed concerns about negative perceptions of lab-grown diamonds, stressing that IGI’s independent, ISO-accredited certification ensures transparency and authenticity for consumers choosing between natural and lab-grown options.
IGI is also pioneering digital diamond certification using blockchain technology, providing provenance for diamonds throughout the supply chain. Printer underscored that the institute is integrating AI into its processes to enhance efficiency, reduce turnaround time, and offer cost-effective solutions for consumers.On consumer preferences, Printer observed that India’s market remains largely conservative, favouring 22-carat gold. However, lightweight gold jewellery and lab-grown diamonds are creating more affordable options without compromising on design or quality.
Festival demand continues to be strong, with consumers increasingly considering diamonds as an alternative to high gold prices.
For full interview, watch accompanying video
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