28-12-2020
Mumbai-headquartered Bharat Diamond Bourse (BDB) will decide to allow the trading of lab-grown diamonds or not at its Annual General Meeting.
If approved, BDB president Anoop Mehta said strict rules of trading will be implemented, key norms including:
· 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 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
According to Gems and Jewellery Export Promotion Council (GJEPC), the lab-grown diamond export represented 228 percent up in April to November yoy.
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