Tightening the Screws
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Friday,April 19 2019 [ Issue 3 April/ 2019 ]
Tightening the Screws
Something happened in New York earlier this week that has made the jewellery industry slightly nervous. The discussion about jewellery businesses declaring the origins of all the materials used in making jewellery is taking an all-new direction, and it looks like this direction is coming straight from the White House.

The U.S. State Department is not very happy about the Kimberley Process and its limitations when it comes to determining the origin of diamonds. This is not the first time we are hearing about implementing chain of custody, that is declaring origin of jewellery materials from one owner to another – but the fact that it may actually be implemented is something serious.

This might impact the gems and jewellery industry globally because U.S. is one of the biggest importers of gemstones and considering India is one of the biggest exporters of cut and polished gemstones, will this affect our own industry? Only time will tell.

 
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Early this week, U.S. State Department officials in a meeting in NYC said that jewellery businesses must declare the origins of all the materials used in making jewellery, failing which they will be subject to new regulations.

 Talks a

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