MUMBAI: What's in a name? More than one might think- especially in the world of diamonds. India's trade body, Gem and Jewellery Export Promotion Council (GJEPC), has now embraced a new standard, following Federal Trade Commission's guidelines in the USA: A "diamond" must now mean a natural stone, mined from the earth.
In an era where laboratory-grown gems are on the rise , this shift has profound implications.
Currently, a diamond, natural or lab-grown, is often sold without a prefix. GJEPC is pushing Indian govt to update Consumer Protection Act, ensuring it reflects new definition of "diamond" as a natural stone. Consumers assume that a "diamond" means natural, but the law offers no explicit protection.
GJEPC aims to close that gap, advocating for clear guidelines to prevent lab-grown diamonds (LGDs) from being misrepresented as natural.
"GJEPC will commence the process of educating Indian trade to ensure a level-playing field and compliance. This will ensure all key stakeholders of trade value chain are responsible and empowered to guide, counsel, and advise consumers and consumer bodies to enhance consumer confidence," said GJEPC chairman Vipul Shah.
Terms such as real, genuine, natural, and precious cannot describe LGD. The term "cultured" can be used and must be followed by terms such as laboratory-created or laboratory-grown. FTC decided to allow "cultured" but with qualifications to avoid confusion. "Synthetic" is not recommended for LGD but isn't prohibited, as per FTC.
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