Lab-grown diamond industry to continue with self-regulation: Piyush Goyal

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Lab-grown diamond industry to continue with self-regulation: Piyush Goyal - Business Standard

Quick Summary:

Commerce and Industry Minister Piyush Goyal on Friday ruled out additional regulations for the lab-grown diamond industry, stating the sector has flourished under the existing self-regulatory framework.

He pointed out that the Kimberley Process provides international certification for natural diamond traceability, while separate certification systems exist for lab-grown and natural diamonds.

Speaking during Question Hour in the Rajya Sabha, the minister said the Kimberley Process Certificate for natural diamonds is widely accepted in international markets.