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.
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.”
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.
