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India: All Rough Trade Must be Regulated by GJEPC

The new directive concerns importing or exporting rough gems
diamond inspecting gems India
Credit: David Talukdar / shutterstock.com

The Indian government, through the Directorate General of Foreign Trade (DGFT), has stated that “all trade in rough diamonds must now be regulated by the Gem & Jewellery Export Promotion Council (GJEPC) for Kimberley Process compliance,” IDEX Online reports.

 

Gold Jewelry India
Credit: NadyaRa / shutterstock.com

 

The new directive concerns anyone involved in importing or exporting rough gems. GJEPC welcomed the move in a press statement, saying “it was a shift towards the trade regulating itself rather than being vetted by the government.”

 

Diwali in India
Credit: India Picture

 

Colin Shah, GJEPC chair, said: “It gives GJEPC and its members power to self-regulate and continue with the impeccable standards that the Indian diamond industry as a brand put forth to the world,” he said.



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