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GJEPC Issues Statement on CVD Synthetics Found in Labs

May 24, 2012 4:16 AM   By GJEPC
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Press Release: This past week the International Gemological Institute (IGI) and Diamond Trading Company (DTC) issued alerts to the diamond community, informing them of undisclosed submission of CVD synthetics to grading laboratories in Belgium, India and China.

It has been also brought to our attention  that IGI has shared the information with all global gem laboratories and cautioned them of this malpractice of certifying lab grown diamonds as natural diamonds, said Rajiv Jain, the chairman of the Gem & Jewellery Export Promotion Council (GJEPC).

The council has always maintained a zero tolerance on any such malpractices and in addition to taking all necessary precautions, will inform its members of this latest development, Jain said.

If you recall,  on February 26, 2007 India did an exclusive seminar and workshop with its members and Apollo and Gemesis Corporation --manufacturers of synthetic stones-- to understand the potential of lab grown diamonds in the long run and define the way forward. The outcome of the workshop defined the importance of 3Ds i.e. disclosure, differentiation and detection. It was made mandatory to follow certain rules while dealing with lab grown diamonds. The outcome was  communicated to the entire trade. The World Federation of Diamond Bourses has also laid out similar rules and these rules are being followed by all the diamond bourses world over.

Jain said that any violation of disclosure rules to this effect is to be dealt strictly and can be grounds for suspension, expulsion, or other appropriate disciplinary measures under the code of ethics as passed by GJEPC in 2011, including prosecution under consumer protection act of the government of India. The council will also approach the government to take adequate measures against any such violation.

"Our structure is such that we cannot tolerate any misuse of the reputation of the diamond trade. We believe that our members are fully aware of their responsibility to protect the integrity of the diamond trade," Jain said. "The council insists on transparency and disclosure in this respect and has always supported BPP, BEM and KPCS, the different processes which ensure clean business in diamonds. Along with the established diamond laboratories the council will always work towards protecting the trade and consumer confidence."

About GJEPC:
The Gem & Jewellery Export Promotion Council is an all-India apex body for gems and jewelry industry, representing 5,300 members. Set up in 1966, it operates under the supervision of the Ministry of Commerce & Industry, Government of India. More info on: www.gjepc.org

Rapaport News is not responsible for, and does not endorse, the content of any press release. Press releases are not written by us and are provided only as additional information for our clients.
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Tags: Apollo Diamond, cvd, diamonds, Dilipp S Nag, DTC, gemesis, GJEPC, grading, IGI, Rajiv Jain, Rapaport, Synthetic diamonds
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