CCPA to Shine Light on Diamond Trading with New Guidelines

The Central Consumer Protection Authority (CCPA) is set to introduce guidelines for the diamond sector to ensure transparent labelling and certification. A stakeholder consultation highlighted issues like misleading terms and inadequate disclosure, with a focus on differentiating natural from lab-grown diamonds and consistent marketing practices.

The Central Consumer Protection Authority (CCPA) is gearing up to unveil comprehensive guidelines aimed at fortifying transparency and consumer protection within the diamond sector. These guidelines are designed to ensure explicit labelling and certification of diamonds while curbing misleading terminologies in trade.

An important stakeholder consultation, led by Nidhi Khare, Chief Commissioner of the CCPA, convened key industry experts and stakeholders to deliberate on enhancing consumer protection in the diamond market. This discussion underscored the necessity for ethical marketing and consistent nomenclature, especially in distinguishing between natural and lab-grown diamonds.

Proposals from the meeting included mandatory labelling and certification of diamond origins, banning misleading terms, and setting up accreditation systems to regulate diamond testing labs. The initiative marks a significant stride toward a transparent, consumer-focused diamond market, backed by existing legal frameworks like the Consumer Protection Act, 2019, and reinforced by guidelines from the Bureau of Indian Standards and Central Board in Direct Taxes and Custom.

(With inputs from agencies.)