GJEPC Hunts for Synthetic Diamond Units
Experts appointed by Gems and Jewellery Export Promotion Council (GJEPC) to understand the landscape of man-made (synthetic or lab-grown) diamonds and its likely impact on the industry have started a secret operation to find out the units manufacturing synthetic diamonds in a clandestine manner in the world’s biggest diamond cutting and polishing centre in Surat. The small diamond manufacturers in the diamond hub of Varachha and Katargam have come under the scanner following reports of the large-scale mixing of synthetic lab-grown diamonds in the natural diamond parcels.
Sources said there are some unscrupulous elements in the diamond industry polishing synthetic stones at secret locations in the city. The polished synthetic diamonds are then mixed with natural diamonds and sold in the diamond markets located at Mahidharpura and Varachha.
In most of the cases, the manufacturers have been selling the synthetic stuff at the Nandu Doshi Ni Wadi – notorious for the ‘badla goods’ (diamonds stolen by the workers) – to escape the prying eyes.
The GJEPC has appointed experts – A T Kearney (global management consulting firm) and Bonas& Co. (De Beers brokers) – to assist in the project of ‘establishing the current status, prepare a framework/guideline for the industry members to trade in natural and synthetic diamonds’.
A Natural Dimaond Monitoring Committee (NDMC) has also been formed with various associations like Bharat Diamond Bourse (BDB), All India Gems and Jewellery Trade Federation (GJF) and Mumbai Diamond Merchants’ Association (MDMA) to take vital decisions pertaining to synthetic diamonds. Industry sources said experts from Mumbai have been camping in the diamond city for the last few days to find out the scale at which the synthetic diamonds are cut and polished and the strategy of mixing them with natural diamond parcels. A top functionary of GJEPC said, “We have sent a team of experts to Surat to find out units manufacturing synthetic diamonds. The manufacturers would be quizzed on various points. A detailed report will be submitted to the Natural Diamond Monitoring Committee (NDMC).”