Sep 18, 2014

EGL India Responds to Rapaport

EGL India issued a press release dated September 17th in response to a note put out by Rapaport in its news section, dated September 9, 2014, saying “Effective October 1, 2014, diamond grading reports from all European Gemological Laboratories (EGL) will no longer be listed on the RapNet Diamond Trading Network”.

EGL India contends that it is an independent laboratory and not connected to any other EGL worldwide.  In 2003, IGL Gemstones Pvt. Ltd. set up their first lab in Mumbai, the release says, having acquired the rights to give grading reports in the name of European Gemological Laboratory (EGL) from EGL, South Africa. These rights were for all of India, and since then, labs have been established in other parts of the country as well.

The release further states: “The lab’s operating and grading standards are ethical and impartial, and it is known for its consistent grading and excellent customer service capabilities.” It claims that it has till date, never been blamed for any misgrading or unethical activity.

While agreeing that action needs to be taken to protect consumer interest, EGL India feels that penalising all EGLs for the alleged actions or misactions of a few  franchises is a disservice not only to the other  franchises but also to the customer base these others serve.   “Simply put,” the release says,” the delisting of all EGLs without any regards to a specific location or franchise penalises all EGLs for the name alone.”

EGL India’s statement come on the heels of similar responses from EGL  South Africa and EGL USA.