New Delhi, Feb. 8 -- The global diamond certification market is projected to grow to USD 1 billion by 2028, up from USD 600 million currently, driven by a 25 per cent increase in lab-grown diamond (LGD) certifications, according to Morgan Stanley.

In December, India's LGD imports surged by 50 per cent month-on-month, while exports rose by 26 per cent, indicating inventory buildup and market share expansion.

India is a key player in the global LGD industry, ranking first in LGD exports with a 29 per cent market share. Alongside China, India accounts for nearly 80 per cent of global LGD production.

IGI is the second-largest global diamond certification provider, holding a 33 per cent market share. It dominates 65 per cent of the LGD cert...