Earlier this week, it was reported that Praveenshankar Pandya, Chairman of the Gem and Jewellery Export Promotion Council (GJEPC), announced the establishment of an International Diamond Monitoring Committee to “eliminate the problem of undisclosed mixing of lab-grown diamonds” in India. Now, the World Federation of Diamond Bourses (WFDB) has issued a statement saying that “it is throwing its weight” behind the initiative.
At the India International Jewellery Show in Mumbai, WFDB President Ernie Blom is quoted by IDEX Online as saying: “All the major diamond industry bodies, including the WFDB and the Diamond Producers Association, took part in exhaustive discussions on the subject […] We stress that we do not have any objection to trading in synthetic stones, only that they are fully disclosed so that consumer confidence in our product is not damaged in any way. I am very pleased to support this initiative proposed by the GJEPC, which is a WFDB Member, together with the BDB. These are the kind of steps that will enable consumers to have full confidence in diamond jewelry”.
According to the report, the International Diamond Monitoring Committee members “will hold their next meeting at the September edition of the Hong Kong Jewelry and Gem Fair”.
