Mumbai: The Gem and Jewellery Export Promotion Council (GJEPC) in India is adopting a new standard aligned with the guidelines of the Federal Trade Commission in the USA. This standard signifies that a "diamond" now exclusively refers to a natural stone sourced from the earth. With the increasing popularity of lab-grown gems, this shift holds significant implications. Currently, both natural and lab-grown diamonds are often sold without any distinct labeling. The GJEPC is urging the Indian government to update the Consumer Protection Act to align with the new definition of a "diamond" as a naturally sourced stone. This step is aimed at filling the existing gap where consumers might assume that a "diamond" is natural without any explicit legal protection. The GJEPC is striving to set clear guidelines to prevent the misrepresentation of lab-grown diamonds as natural ones. The council plans to educate the Indian trade community to ensure adherence to regulations, provide consumer guidance, and increase confidence. Terms like real, genuine, natural, and precious are not suitable for describing lab-grown diamonds, as the term "cultured" should be used alongside qualifiers like laboratory-created or laboratory-grown. The FTC has allowed the use of "cultured" with specific conditions to prevent confusion. While the term "synthetic" is not recommended for lab-grown diamonds, it is not explicitly prohibited by the FTC.
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, follo...