(IDEX Online News) – India’s Gem & Jewellery Export Promotion Council (GJEPC) has taken steps to deal with industry concern about undisclosed mixing of man-made diamonds with natural diamonds.

 

The GJEPC is taking steps to deal with the issue. Along with the Bharat Diamond Bourse (BDB), it immediately initiated investigations which are still going on vide and an explanation has been requested from companies involved.

 

“Based on the result of such investigations, the legal team of GJEPC and BDB will initiate actions as per the constitution of both bodies. Similarly the parties who are the victims have been directed to file complaints and advised to proceed as per the law.

 

The GJEPC has, along with the several trade associations, also established a Natural Diamond Monitoring Committee. “The technology for developing man-made diamonds has been available for some time and now many companies have started manufacturing as well as polishing them commercially. The industry needs to make sure that consumer confidence in the industry is maintained through segregation of the natural and man-made diamonds value chain and disclosures at every step. India is taking the lead in dealing with the situation and hence to proactively understand the likely issues as well as formulate strategies.”

 

In addition, the GJEPC and BDB have conducted two seminars on synthetic diamonds this year to create awareness among members.

 

The GJEPC has appointed expert bodies – A. T. Kearney (Global Management Consulting Firm) and Bonas & Co (DTC Brokers) – to assist in Establishing the current status, and prepare a framework/guideline for the industry members to trade in natural and Synthetic Diamonds’.

 

“Based on the findings and recommendations (expected by February 2014) of the experts, the Council along with national and international trade bodies and the government will formulate strategies to address the issues identified and formulate necessary guidelines.”

 

The GJEPC and BDB have established a ‘Man-made Diamonds Detection and Resource Centre’, at the BDB within a month. The center will offer facilities for the quick detection of man-made diamonds in addition to providing information about man-made diamonds, equipment for detection and training for operating the equipment.