MUMBAI: What’s in a reputation? More than one would possibly think- particularly on the earth of diamonds. India’s trade body, Gem and Jewellery Export Promotion Council (GJEPC), has now embraced a brand new customary, following Federal Trade Commission’s tips within the USA: A “diamond” should now imply a pure stone, mined from the earth.
In an period the place laboratory-grown gems are on the rise , this shift has profound implications.
Currently, a diamond, pure or lab-grown, is typically offered and not using a prefix. GJEPC is pushing Indian govt to replace Consumer Protection Act, guaranteeing it displays new definition of “diamond” as a pure stone. Consumers assume {that a} “diamond” means pure, however the regulation gives no specific safety.
GJEPC goals to shut that hole, advocating for clear tips to forestall lab-grown diamonds (LGDs) from being misrepresented as pure.
“GJEPC will commence the process of educating Indian trade to ensure a level-playing field and compliance. This will ensure all key stakeholders of trade value chain are responsible and empowered to guide, counsel, and advise consumers and consumer bodies to enhance consumer confidence,” mentioned GJEPC chairman Vipul Shah.
Terms corresponding to actual, real, pure, and treasured can’t describe LGD. The time period “cultured” can be utilized and have to be adopted by phrases corresponding to laboratory-created or laboratory-grown. FTC determined to permit “cultured” however with {qualifications} to keep away from confusion. “Synthetic” is not really useful for LGD however is not prohibited, as per FTC.
