The Gem and Jewellery Export Promotion Council (GJEPC), India’s trade body for the gem and jewellery industry, has announced new standards that redefine what constitutes a “diamond.” The updated guidelines specify that a diamond must be a natural stone, mined from the earth, in line with the Federal Trade Commission’s (FTC) standards in the United States. This move aims to prevent the misrepresentation of laboratory-grown diamonds (LGDs) as natural diamonds and provide clarity within the diamond market.The GJEPC is also advocating for updates to the Consumer Protection Act in India to reflect this definition, as current legislation does not explicitly differentiate…
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