Is your diamond real? India's diamond industry takes a stand against natural & lab confusion
India's GJEPC now defines a 'diamond' as a naturally mined stone. Following US FTC guidelines, they advocate updating the Consumer Protection Act to distinguish between natural and lab-grown diamonds. This aims to prevent misrepresentation and bui...
The rise of lab-grown diamonds (LGDs) has led to potential confusion in the market, where both natural and lab-grown diamonds are often sold without clear distinctions. GJEPC is advocating for the Indian government to amend the Consumer Protection Act to reflect this new definition, ensuring that consumers are not misled.
GJEPC Chairman Vipul Shah emphasized the importance of this change, stating, "GJEPC will commence the process of educating Indian trade to ensure a level-playing field and compliance. This will ensure all key stakeholders of trade value chain are responsible and empowered to guide, counsel, and advise consumers and consumer bodies to enhance consumer confidence."
To avoid misrepresentation, lab-grown diamonds cannot be described using terms like real, genuine, natural, or precious. Instead, they can be called "cultured" but must include qualifiers such as laboratory-created or laboratory-grown. While the term "synthetic" is not recommended, it is also not prohibited by the FTC.
The initiative aims to provide clear guidelines for industry practices and consumer protection, ensuring transparency in the diamond market.
(With ToI inputs)
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