CCPA to bring regulatory framework for diamond industry to protect consumers interest

The Central Consumer Protection Authority (CCPA) volition soon merchandise guidelines connected diamond assemblage to guarantee explicit labelling and certification of each diamonds and prohibit the usage of misleading presumption successful trade.

The CCPA has organised a stakeholder consultation connected user extortion successful the diamond assemblage to deliberate connected the usage of due terminology for diamonds, an authoritative connection said connected Tuesday.

The consultation, chaired by Nidhi Khare, Chief Commissioner, Central Consumer Protection Authority (CCPA), brought unneurotic cardinal manufacture stakeholders and experts. "The CCPA volition soon merchandise a robust model to guarantee transparency, accountability, and user extortion crossed the diamond industry," the connection said.

The gathering addressed captious concerns regarding the deficiency of standardised terminology and inadequate disclosure practices successful the diamond sector. "These gaps person resulted successful user disorder and misleading practices, particularly concerning the differentiation betwixt earthy diamonds and lab-grown diamonds," it pointed out.

Industry statement emphasised the request for ethical selling practices and accordant terminology to heighten user protection.

"Comprehensive guidelines were projected to mandate: Explicit labelling and certification of each diamonds, specifying their root and accumulation method; prohibition of misleading presumption similar 'natural' oregon 'genuine' for lab-grown products; accreditation systems to modulate and standardise diamond investigating laboratories, curbing the emergence of unregulated entities," the connection said.

The consultation was a important measurement toward gathering a transparent and consumer-centric diamond market. During the consultation, the wide cardinal aspects and prevailing Legal and Regulatory frameworks were discussed successful detail.

Citing an example, the CCPA said that The Legal Metrology Act, 2009, nether Section 12, provides the portion of wide for diamonds, pearls, and precious stones arsenic the carat (symbol: c), equivalent to 200 milligrams oregon 1 five-thousandth of a kilogram, ensuring standardised measurements for consistency successful commercialized transactions crossed the diamond industry.

The Bureau of Indian Standards (BIS) Standard IS 15766:2007 mandates that the word "diamond" unsocial indispensable exclusively notation to earthy diamonds. Synthetic diamonds cannot beryllium labelled arsenic "diamond" without qualification and indispensable beryllium explicitly referred to arsenic “synthetic diamonds,” irrespective of the accumulation method oregon worldly used.

To support marketplace clarity, synthetic diamonds are besides prohibited from being graded alongside earthy diamonds. Under the Consumer Protection Act, 2019, a robust ineligible model to safeguard user interests by preventing unfair commercialized practices and ensuring transparent labelling successful the diamond manufacture is provided.

This prohibits misleading descriptions oregon omissions that whitethorn confuse consumers.

Further, Central Board of Indirect Taxes and Custom (CBIC) reinforced these measures, mandating the explicit declaration of whether a diamond is earthy oregon lab-grown, and if lab-grown, the accumulation method—Chemical Vapor Deposition (CVD), High Pressure High Temperature (HPHT), oregon others—must beryllium specified to guarantee transparency and accountability successful the diamond sector.