Bharat Diamond Bourse to Trade Lab-Grown Diamonds

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.