Centre’s new guidelines soon to protect diamond buyers’ interests

A connection issued by the Ministry of Consumer Affairs, Food and Public Distribution said the gathering “addressed captious concerns regarding the deficiency of standardized 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 said.

According to the statement, broad 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.”

“During the consultation, the wide cardinal aspects and prevailing Legal and Regulatory frameworks were discussed successful detail. For example, 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 standardized measurements for consistency successful commercialized transactions crossed the diamond industry,” the connection added.

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

“To support marketplace clarity, synthetic diamonds are besides prohibited from being graded alongside earthy diamonds,” it said.

“Further, Central Board successful Direct Taxes and Custom (CBIC) reinforced these measures, by Circular No. 21/2024, dated October 30, 2024, 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,” the connection said.