International Gemological Institute (IGI), a Belgium-headquartered independent laboratory for testing and grading gemstones and fine jewellery, is in the process of establishing a gemology lab-cum-institute in Hyderabad in January.
“Besides certification, the proposed 2,500-sft centre will offer ‘window service’ wherein the lab will grade and give back loose diamonds to the depositor within five days. The facility will also house an institute to impart knowledge on diamonds and gemstones to local trade,” Tehmasp Printer, managing director of IGI India, told mediapersons here on Monday.
IGI, which had issued 1 million certifications globally last year, has a presence in 17 locations worldwide, including nine in India.
Stating that India was a hub for diamond processing activity, cutting and polishing 90 per cent of the total diamonds produced in the world, Printer said IGI charged Rs 3,500 per carat to certify a diamond.
IGI on Monday started a two-day buyer-seller knowledge meet in Hyderabad aimed at the future development of the gemstone market in the city.
"Over 21 loose diamonds and precious stone-studded jewellery manufacturing companies are taking part in the meet," Printer said.
