International business centre for diamonds
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SURAT: It is going to be a big day for the Indian diamond industry. De Beers, the diamond mining giant of the world, will inaugurate its second and Asia’s first state-of-the-art International Institute of Diamond Grading and Research (IIDGR) in the diamond city on March 31.
De Beers Group CEO, Philippe Mellier and the who’s who of the Indian diamond industry are expected to remain present during the inauguration of Asia’s first diamond grading and research institute at the International Business Centre in the posh Piplod on March 31.
The institute would issue comprehensive analysis on the diamonds in their grading report. It would contain all the information needed by a diamantaire to authenticate the diamond and its awarded grade. The inscription of the ‘forever mark’— De Beers’ global initiative to win consumer confidence — on the diamonds will be done in this facility.
Apart from this, the institute will work with the Indian diamond industry to maintain consumer confidence in diamonds and, more specifically, support the industry in the detection of synthetic stones.
India accounts for $8billion worth of annual diamond jewellery sales and the polished diamond demand is pegged at $2billion per annum.
Whatever rough diamond De Beers sells annually, more than 60 per cent of its annual sales worth over $2.5 billion come from the Indian sightholders, most of them are based in Surat. However, the De Beers clients would also go for the IIDGR grading of their diamonds and also the preferred jewellers registered in the forever diamond mark programme.
The Indian consumers prefer buying diamonds and diamond-studded jewellery along with the certificates from reputed gem-testing laboratories. This was not the case a few years ago. However, the GIA and IGI have set up their bases in Surat, Mumbai and other centres to cater to the ever-increasing demand of diamond certification from the retail jewelers and diamantaires.
IIDGR is set to give a cut-throat competition to the established international gemological institute due to the reputation of De Beers group in the global market.
Talking to TOI, Jonathan Kendall, president, IIDGR said, “We have recruited a staff of around 200 people at our facility in Surat. This is the facility where we are also going to inscribe forever mark diamonds. Surat is the world centre for diamond cutting and polishing and we are closely attached with the diamantaires as around 60 per cent of our clients are Indians.”
According to Kendall, the institute will also provide facilities for the testing of synthetic diamonds, especially the small sized melle stones in its Automated Mellee Testing (AMS) machines to the small and medium diamantaires, who do not have access to the equipment as yet.
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