April 30, 2021

BDB lifts ban on artificial diamonds

Decks have been cleared for buying and selling of artificial diamonds on the Bharat Diamond Bourse (BDB), the nation’s largest diamond buying and selling hub.

BDB members on the bourse’s annual basic assembly held Monday voted to elevate the ban imposed 4 years in the past at an AGM.

The ban was imposed “to guard “ the pure diamond commerce , mentioned Mehul Shah, Vice President, BDB. “Again then telling a lab grown from a pure one was troublesome . However, now since consciousness has unfold amongst members and machines have been deployed by a few of them to inform pure from lab grown one, BDB determined to elevate the ban .”

Shah mentioned tips For buying and selling synthetics could be finalised inside per week and approvals for buying and selling would start over the following fortnight .

Draft guideline proviso say that an entity selecting to deal in artificial diamonds has to open a separate firm for the aim . Additionally, a separate space needs to be reserved for artificial diamond buying and selling, amongst others .

Shah mentioned a lab grown diamond traded at a fifth of the worth of a pure one.