09 Mar 2021
DiamondWorld Directory
Home |
News
Home
BDB members say Yes to trading of lab-grown diamonds
In the Annual General Meeting that was conducted on the 28th, BDB members agreed to allow trading of lab-grown diamonds after certain rules are put in place
By: Diamond World News Service
|
Dec 30 2020 11:32AM
|
Reference: 25340  

DecreaseIncrease

The Bharat Diamond Bourse (BDB) members during the Annual General Meeting held yesterday, have in principle approved the trading of lab-grown diamonds (LGDs) within the BDB. However, members cannot start trading in LGDs just yet. The BDB Managing Committee will now draw up a set of guidelines to be followed by members who wish to trade in LGDs. 

Mehul Shah, Vice President, BDB, says, “The BDB members will have to adhere to a set of guidelines formed by the bourse’s management before they are allowed to trade in synthetic diamonds. The intention is to keep the two pipelines -- natural and lab-grown -- separate. The managing committee of BDB will now frame rules and guidelines on the same and decide the date from when members can start to deal in synthetics.”

Some of the norms which may be enforced are:

· A separate application/registration will have to be made by members desirous of trading in synthetics

· Companies dealing in both products shall ensure that the two separate entities are formed

· Identify and demarcate an office premises that they shall utilise solely for the purpose of trade in synthetic / LGDs

· Ensure that there is a clear, distinct and robust segregation process and technique implemented in their office premises

· Implementation of a separate and distinct stock/inventory management system

Colin Shah, Chairman, GJEPC, comments, “The decision to allow LGD trading within BDB will ensure the long-term sustainability of the Indian diamond manufacturing industry. The industry has always believed in being inclusive and there is a place for every product to exist as long as the disclosures are made. I see no reason why natural diamonds and lab-grown diamonds cannot co-exist as both products are important for keeping the home fires burning.”

Source: GJEPC

 

Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet
Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
*  Company:
 
*  Name:
 
*  Mobile:
 
*  Email:
 
 
Subscribe for DiamondWorld weekly Newsletter
 
Search News by City
Advertisement
Kosher 23460
Advertisement
Kosher 23460
Recent Issue
2020
AVAILABLE NOW...!
Advertisement
Kosher 23460
News in Pictures
Videos
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 28640
Diamond World Expert Hour with Evgeny Agureev, Deputy CEO, ALROSA
Views: 4264
GJEPC Chairman Interview
Views: 25166
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 33621
Promo for IJ Awards 2012 at NDTV Profit
Views: 47384
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 60156
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 19579
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 46223
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 45079
Advertisement
KGK_Antwepr
Advertisement
Kosher 250300
Member of:
Supporter of: