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...
In Mumbai, the Gem and Jewellery Export Promotion Council (GJEPC) has adopted a new standard for diamonds following guidelines from the Federal Trade Commission in the USA. The definition now specifies that a "diamond" refers to a natural stone mined from the earth, amid the growing popularity of laboratory-grown gems. The GJEPC is urging the Indian government to update the Consumer Protection Act to align with this new definition, ensuring clarity for consumers and preventing lab-grown diamonds (LGDs) from being misrepresented. They aim to educate the trade industry to promote transparency and consumer confidence, emphasizing the use of terms like "cultured" for lab-grown diamonds and offering guidelines to prevent confusion.
