The Gem and Jewellery Export Promotion Council (GJEPC) in India has adopted a new standard for defining a "diamond," aligning with the guidelines set by the Federal Trade Commission in the USA. Now, a "diamond" must be a natural stone extracted from the earth. This change holds significant importance as the market sees an increase in laboratory-grown gems. Currently, both natural and lab-grown diamonds are often sold without differentiation. GJEPC is urging the Indian government to update the Consumer Protection Act to reflect the new definition of "diamond" as a natural stone, aiming to ensure clarity and prevent misrepresentation of lab-grown diamonds as natural ones. The council plans to educate the Indian trade industry to promote fairness and compliance, ultimately enhancing consumer confidence. Terms like real, genuine, natural, and precious should not be used to describe lab-grown diamonds; instead, the term "cultured" followed by terms like laboratory-created or laboratory-grown is recommended. The Federal Trade Commission allows the use of "cultured" with specific qualifiers to prevent confusion, while the term "synthetic" is not preferred for lab-grown diamonds but isn't explicitly prohibited.
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...