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Mumbai Exchange Mulls Lifting Synthetics Ban
Nov 15, 2018 7:51 AM
By Joshua Freedman
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RAPAPORT... Mumbai’s Bharat Diamond Bourse (BDB) is considering allowing
synthetic-diamond trading on the exchange premises, its president told Rapaport
News.
Some members have asked management to reconsider its 2015
ban on selling lab-grown diamonds anywhere in the BDB’s vast office complex,
Anoop Mehta said this week. The bourse will consult with members after the Diwali
vacation season, and could call a vote in the first quarter of next year, he added.
“One of the prime reasons [for outlawing lab-grown diamonds]
was that detection was a major problem at that time,” Mehta explained. “Detection
has come a long way, so we will relook at it.”
Most diamantaires are unlikely to back the change as it
would damage their business, according to a trader at a member company, who was
not aware that the matter was on the table.
The bourse expects to brief members in informal meetings in
December once traders have returned from Diwali, Mehta said. It will also use
those events to discuss the issues and ensure voters make an informed decision,
he added.
The BDB declared the bourse a “natural-diamond zone” in
October 2015, claiming it was the first exchange to do so.
Image: Bharat Diamond Bourse.
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Tags:
Anoop Mehta, BDB, Bharat Diamond Bourse, bourses, India, Joshua Freedman, lab-grown diamonds, laboratory-grown diamonds, mumbai, Rapaport News, Synthetic diamonds, Synthetics
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