The International Diamond Monitoring Committee, announced at last month’s India International Jewellery Show in Mumbai, is an initiative of the Indian Gem and Jewellery Export Promotion Council (GJEPC) and the Bharat Diamond Bourse (BDB).
World Federation of Diamond Bourses (WFDB) president Ernie Blom explained that he was one of several industry representatives who participated in committee discussions during the trade show.
“All the major diamond industry bodies, including the WFDB and the Diamond Producers Association, took part in exhaustive discussions on the subject,” Blom said.
“I am delighted that we reached a number of decisions regarding the new panel’s aims. It will have comprehensive objectives, including the monitoring of trends and instances of non-disclosure of synthetics, threats to the polished diamond sector, and agreeing on the most effective detection devices for trade members.”
The International Diamond Monitoring Committee will reportedly focus on making affordable detection machines available at every level of the supply chain, as well as implementing standardised language on how to refer to synthetics.
Further commenting on the initiative, Blom said: “We stress that we do not have any objection to trading in synthetic stones, only that they are fully disclosed so that consumer confidence in our product is not damaged in any way.
“I am very pleased to support this initiative proposed by the GJEPC, together with the BDB. These are the kind of steps that will enable consumers to have full confidence in diamond jewellery.”
The next International Diamond Monitoring Committee meeting will take place at the Hong Kong Jewellery and Gem Fair in September.
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