BDB Members Overturn Ban on Lab-Growns
December 29, 20
(IDEX Online) - Members of the Bharat Diamond Bourse (BDB), in Mumbai, voted yesterday, as expected, to allow the trading of lab-growns.
The managing committee of the world's largest bourse will now draw up strict guidelines to keep natural and lab-grown diamonds (LGD) separated and is likely to set aside a dedicated LGD office. No date has been set for the new policy to be implemented.
The sale of lab-growns was banned at BDB in 2015, amid concerns that unscrupulous merchants would threaten the trade of small and melee diamonds. Technology now allows much easier differentiation between lab-grown and natural gems.
Mehul Shah, vice president, BDB said: "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."