News

Aug 03, 2017

WFDB Supports India’s Initiative to Set up International Diamond Monitoring Committee

The World Federation of Diamond Bourses (WFDB) has expressed complete backing to the recently announced setting up of an International Diamond Monitoring Committee, at the initiative of India’s Gem and Jewellery Export Promotion Council (GJEPC) and the Bharat Diamond Bourse (BDB).

WFDB President Ernie Blom, who attended the meeting of international representatives during last week’s India International Jewellery Show in Mumbai, which approved the idea, said he was fully supportive of the initiative. It aims to eliminate undisclosed mixing of lab-grown diamonds in packages of natural diamonds as well as other objectives.

“All the major diamond industry bodies, including the WFDB and the Diamond Producers Association, took part in exhaustive discussions on the subject,” said Blom. “I am delighted that we reached a number of decisions regarding the new panel’s aims. It will have comprehensive objectives, including the monitoring of trends and instances of non-disclosure of synthetics, threats to the polished diamond sector, and agreeing on the most effective detection devices for trade members.”

Blom also stressed that the committee does not have any objection to trading in synthetic stones, but insists that it be done with full disclosure so that consumer confidence in natural diamonds is not damaged in any way. “I am very pleased to support this initiative proposed by the GJEPC, which is a WFDB Member, together with the BDB. These are the kind of steps that will enable consumers to have full confidence in diamond jewellery,” he added.

The International Diamond Monitoring Committee members will hold their next meeting at the September edition of the Hong Kong Jewelry and Gem Fair.