GJEPC Calls for Transparent Diamond Disclosure Regulations

GJEPC is advocating for stringent regulations to mandate clear disclosure of natural and lab-grown diamonds, aiming to protect consumers and maintain industry integrity. The council is urging the adoption of FTC guidelines to address terminology misuse and enhance transparency, amid challenges from the global supply chain and shifting consumer preferences.

The Gems and Jewellery Export Promotion Council (GJEPC) has called on the government to establish stringent regulations requiring traders to explicitly disclose whether diamonds are natural or lab-grown in their marketing efforts. This move, according to the council, is to prevent consumer confusion and uphold the domestic industry's integrity.

In an official communication with the Department of Consumer Affairs, the council emphasized that transparency and clear, standardized guidelines are crucial. This initiative comes in response to widespread misuse of terminology surrounding lab-grown diamonds in India, which the council seeks to rectify by advocating for the adoption of the U.S. Federal Trade Commission (FTC) guidelines.

The diamond industry in India, already burdened by the global supply chain disruptions caused by the Russia-Ukraine conflict, faces further challenges. With a growing consumer shift toward more affordable and sustainable lab-grown diamonds, the need for precise labeling has become imperative. The government is supporting this sector by promoting indigenous production and eliminating customs duty on lab-grown diamond seeds.

(With inputs from agencies.)