News about ‘BDB mulling over lifting the ban on synthetic diamonds’ has been doing rounds since yesterday. When a well-known trade media portal reports such a development, it leaves the industry shaken. However, the Indian diamond industry is quite aware of the stern stand Bharat Diamond Bourse has taken against the trading of synthetic diamonds in its premises. In 2015, BDB completely banned the trading of synthetic diamonds within the complex.

The portal in its report has quoted Mr Anoop Mehta and about few BDB members approaching the BDB to reconsider its 2015 decision.

Coming back to the news, it was quite disturbing to read such developments amidst the horde of issues that the industry is already facing. When DiamondWorld spoke to Mehul Shah, Vice President, BDB, he clarified “Anoop Mehta, President of BDB has been misquoted by the online news portal. His words have been completely twisted. There is no such development. BDB is not at all thinking of lifting the ban on trading of synthetic diamonds within its premises.”

Further, he said, “BDB is a member’s body. We work for the industry members. All the decisions are taken with the consent of its members. Few months ago, some members had approached the BDB. However, the BDB’s managing committee had unanimously decided not to allow trading of synthetic diamonds at the bourse as it’s in the best interest of the natural diamond industry.”