In Mumbai, the Gem and Jewellery Export Promotion Council (GJEPC) has adopted a new standard in line with guidelines set by the Federal Trade Commission in the USA. Now, a "diamond" must specifically refer to a natural stone sourced from the earth. This change becomes significant considering the increasing prevalence of lab-grown gems in the market. Currently, both natural and lab-grown diamonds are often sold without differentiation. The GJEPC is urging the Indian government to update the Consumer Protection Act to ensure that the term "diamond" is clearly defined as a natural stone. This move aims to protect consumers from potential misinformation, as the existing law does not explicitly safeguard against lab-grown diamonds being misrepresented as natural ones. The GJEPC seeks to educate the Indian trade community on these changes to ensure fair practices and compliance. Additionally, terms like "real," "genuine," "natural," and "precious" should only apply to natural diamonds, while lab-grown diamonds should be described as "cultured" and specified as "laboratory-created" or "laboratory-grown." The FTC's regulations permit the use of "cultured" for lab-grown diamonds with clarifications to avoid confusion, and caution against using the term "synthetic" for lab-grown diamonds.
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...