Bharat Diamond Bourse to Trade Lab-Grown Diamonds

Lab-GrownDec 31, 2020

Bharat Diamond Bourse to Trade Lab-Grown Diamonds

The Mumbai bourse’s managing committee is outlining guidelines before the trading begins.

Mumbai, India—The Bharat Diamond Bourse in Mumbai approved the trading of lab-grown diamonds at its annual general meeting.

The trading will not start just yet, said the BDB.

The BDB Managing Committee will outline a set of guidelines for members who want to trade lab-grown diamonds.

Possible guidelines include a separate application or registration for those who want to trade lab-grown diamonds and separate stock and inventory management systems.

Companies trading both natural and lab-grown diamonds may be asked to form two separate entities and set aside an office space solely for lab-grown diamonds.

“The BDB members will have to adhere to a set of guidelines formed by the bourse’s management before they are allowed to trade in synthetic diamonds,” said Vice President Mehul Shah in a press release about the decision.

“The intention is to keep the two pipelines—natural and lab-grown—separate.”

Allowing lab-grown diamond trading will help sustain the Indian diamond manufacturing industry, GJEPC Chairman Colin Shah said.

“The industry has always believed in being inclusive, and there is a place for every product to exist as long as the disclosures are made. I see no reason why natural diamonds and lab-grown diamonds cannot co-exist as both products are important for keeping the home fires burning,” he said.

Lenore Fedowis the associate editor, news at National Jeweler, covering the retail beat and the business side of jewelry.

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