(PRESS RELEASE) IGI GLOBAL — The International Gemological Institute (IGI), the world’s largest independent gemological laboratory, analyzed and graded a 7.50 carat lab-grown diamond gifted to the First Lady of the United States, Jill Biden, by India’s Prime Minister Narendra Modi during his recent visit to the United States.
Manufactured by Surat-based grower Greenlab, Modi’s gift stands out for its exceptional quality, environmentally conscious production methods and national symbolism. Celebrating the 75th anniversary of India’s Independence, the 7.5 carat round brilliant is Type IIa, the purest category of diamond. Measuring 12.43 – 12.53 x 7.78 millimeters, it displays F color, VVS2 clarity, ideal cut quality and “Hearts & Arrows” craftsmanship; a category reserved for the world’s most precisely cut diamonds. The rough crystal was grown using earth-friendly solar and wind power, reducing carbon emissions to only 0.028 grams per carat.
According to their Ministry of Commerce, India currently produces 15% of all LGDs in the world, primarily using the Chemical Vapor Deposition (CVD) growth process. IGI pioneered the grading of lab grown diamonds in 2005, to ensure transparency and disclosure for a newly emerging sector. Between 2010 and 2022 market size grew from less than $1.00 to $11.30 billion USD and may reach 19.2 million carats by 2030. IGI currently grades over 90% of lab grown diamonds and grown diamond jewelry.
“The popularity of lab grown diamonds has significantly increased in the past few years and has become an attractive choice for individuals worldwide. India has been continuing to advance production and create jobs and opportunities in the market,” states Roland Lorie, CEO of IGI. “It is clear that lab grown diamonds have firmly established their place in market, and IGI is proud to be the authority on grading these remarkable and record-breaking advancements.”
In the past two months IGI has analyzed and graded several record-breaking stones, including a 50.25 carat specimen measuring 22.95 x 18.45 x 11.57 millimeters – the first lab grown diamond to surpass the significant “half-century” mark in carat weight. Named “Shiphra,” this new world record holder is a Tyle IIa emerald cut, displaying G color, VS2 clarity, and excellent cut, polish, and symmetry. Grown and submitted to IGI by Ethereal Green Diamond LLP, Shiphra has been widely hailed as a landmark achievement in the lab grown diamond sector.
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