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Articles from DIAMONDS BY TYPE - SYNTHETIC / LAB-CREATED (77 Articles)

The Bharat Diamond Bourse in Mumbai
The Bharat Diamond Bourse in Mumbai

Bharat Diamond Bourse & Lab-grown diamonds

The world’s largest diamond bourse, the Bharat Diamond Bourse (BDB) in Mumbai, India, has denied rumours it is planning to lift the ban on the sale of synthetic diamonds on its trading floors.

Anoop Mehta, BDB president, was reported as saying that advances in synthetic diamond detection technology could form the basis for overturning the band, and that the policy would be reviewed at board level “in the next five to six months”.

However, a spokesperson for BDB later clarified: “Local media quoted Anoop Mehta that he may consider allowing synthetic diamonds after six months, but the BDB management committee has rejected the proposal to allow synthetics. This decision will be finalised at the BDB general body meeting and presently there is no other proposal to lift the ban.”

The policy has been in place since 2015, and was justified at the time due to reports of mixing lab-grown stones with mined diamonds. Reports that the ban would be withdrawn in 2017 were also proven to be false.

Meanwhile, lab-grown diamonds have been given a boost in China. The Guangzhou Diamond Exchange (GZDE) has signed a strategic co-operation agreement with local synthetic diamond suppliers.

Bharat Diamond Bourse

Friday, 23 August, 2019 07:01pm
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