Buying a Diamond? IGI's Tehmasp Printer On Why Certification & Origin Matter More Than Ever

Lab-grown diamonds are becoming all the rage due to their near-identical resemblance to natural ones. Initially, when choosing a diamond, the ‘4 Cs’—cut, colour, clarity, and carat weight—were universally accepted as the standard to measure its value.

Today, even before considering the 4 Cs, a more important question needs to be addressed: the diamond’s origin.

For buyers, the International Gemological Institute (IGI) believes it is imperative to know what you’re paying for. IGI is at the forefront of driving awareness on the importance of certification. Tehmasp Printer, Managing Director and Chief Executive Officer, gives us the lowdown on the elements that matter most.

Excerpts from the conversation…

What makes the certification of gems crucial?

The Indian consumer—the Indian lady—is very selective. She wants unique designs. In the West, we make certificates for 500 pieces of the same kind. In India, every piece is unique. Here, design comes first, then quality. And when it comes to quality, when you’re paying a lot of money, you want to ensure that you’re paying for the material you have in mind.

So why IGI when there are so many different certification bodies? Because we are not only India—we are global. We are the largest independent accreditation and certification services provider with a 50% market share. We ourselves get audited by ISO/IEC 17025, which is a very stringent lab accreditation. We are also certified by a global body called the RJC—the Responsible Jewellery Council. So we are technically, socially, and environmentally sound.

How do you see the demand shifting in the Indian market, especially with respect to lab-grown and natural diamonds?

Let me put it this way—both are diamonds. The chemical properties, physical properties, crystallography—everything. The only difference here is the price. One is more affordable than the other.

Now, when they’re both identical, can you imagine the difficulty in identifying their origin? It is an extremely technologically advanced technique. While we evaluate each diamond on the basis of the 4 Cs, identifying its origin comes first today.

Every woman desires to have a diamond, but not everyone necessarily has the means. So, she would buy trinkets, fashion jewellery, and imitations. Today, that desire can be satisfied through lab-grown diamonds. New consumers are entering the market because of their affordability.

So the consumer pie is exponentially expanding. And some of them, when they have the means, buy natural diamonds. I see both lab-grown and natural diamonds as complementary to each other.

However, transparency is key. Give the consumer the choice, and they will decide based on how deep their pockets are.

How do you see the value of lab-grown diamonds shaping up in the future?

As I said, lab diamonds are affordable—not cheap. A diamond is not a commodity. It’s a luxury and a status symbol. So it comes down to personal choice and perspective.

You were first the CEO for IGI India before becoming the global head. Tell us about the transition and the transformation of the market.

We were acquired by Blackstone, the world’s largest equity fund. We are the only certifying body in the world to be listed on the stock exchange. We were a very large regional entity. Today, we are a very large global entity.

The world’s first diamonds came from Andhra Pradesh in India. The Koh-i-Noor, too. Now, diamonds have come back home to roost. India is the world’s largest market for cutting and polishing diamonds, with 95 out of 100 diamonds cut and polished in India. And I’m very proud of that.

Do you have any last words for the reader?

If you love diamonds, don’t become a gemologist—come to us! And if your jeweller says, “You don’t need a certification, it’s too expensive,” don’t listen to them.