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India Prime Minister Modi Gifts Lab Grown Diamond to Jill Biden June 27, 2023 (0 comments)


Washington, D.C.--The International Gemological Institute (IGI) analyzed and graded a 7.5-carat lab-grown diamond gifted to the First Lady of the United States, Dr. 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 represents the 75th anniversary of India’s Independence. The round brilliant gem is Type IIa, the purest category of diamond with F color, VVS2 clarity. It also has the “ideal cut” quality and “Hearts & Arrows” craftsmanship; a category reserved for precisely cut diamonds, IGI said in a statement. The rough crystal was grown using solar and wind power, reducing carbon emissions to only 0.028 grams per carat.

[India's Prime Minister, Narendra Modi, gifts 7.5-carat lab-grown diamond to First Lady, Dr. Jill Biden with U.S. President Joe Biden. Photo credit: Time magazine, ANI/Reuters]

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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