In Mumbai, the Gem and Jewellery Export Promotion Council (GJEPC) has adopted a new standard for defining diamonds, in line with the Federal Trade Commission’s guidelines in the USA. Going forward, the term "diamond" will specifically refer to a natural stone excavated from the earth, distinguishing it from lab-grown alternatives. The increasing popularity of laboratory-created gems has prompted this shift, prompting the GJEPC to urge the Indian government to amend the Consumer Protection Act to align with the updated definition. This move aims to address consumer confusion by ensuring that the term "diamond" inherently implies a natural origin. Efforts are underway to educate the Indian trade industry on these developments and encourage transparent labeling practices to promote consumer trust. The FTC has allowed the use of the term "cultured" for lab-grown diamonds, but only when accompanied by specific qualifiers to prevent misrepresentation. The use of terms such as "real," "genuine," "natural," and "precious" is reserved for natural diamonds, while "synthetic" is discouraged but not prohibited 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...