The reports from the US GIA department
The World’s most significant diamond cutting and polishing center in Surat is finding it difficult to trade their diamonds in the US due to the continuous stress by the Gemological Institute of America, which does not want to buy with countries using the synthetic word in their diamond manufacturing sector. Not only America but also many international diamond grading laboratories have decided to sell only natural diamonds to maintain the purity and natural form of the metal among the buyers in the respective countries.
A big “no” to the synthetic diamonds from the US diamond industry
The GIA and the diamond industry have decided to differentiate the artificial and natural diamond. The US is the largest diamond consumer to date on the planet, and the largest diamond industry consumers from the country have decided to reject all the gold imports from Mumbai and Surat as they manufacture lab made or synthetic diamonds and also have asked them not to send such diamonds in their countries.
The overview of the FTC committee and DINESH NAVADIA
The US-based FTC committee stated last year that a diamond is a diamond, whether it is grown in a laboratory or comes out from the ground.
The GJEPC (Gems and jewelry export promotion council) regional chairman DINESH NAVAIDIA said that the automated grading is happy to write down the synthetic diamond in their reports.
NAVAIDIA also added that it would be hard for the US consumers to stay away from the laboratory diamonds as they are cheap and does not require substantial manufacturing cost like natural diamonds. The World’s largest diamond consumer US has to permit one or the other day as the population fancies to the cheaper artificial counterpart when compared with the expensive natural diamonds.
The expert’s overview of the diamond market
The GIA revised their grading statement on July one, which meant on points like customer trust over the gem and jewelry reports of the country.
Kriti Shah, the diamond expert, said that the majority of the countries have to stop sending diamonds to international grading laboratories as they will kill the industry. This will only create trust issues on distinguishes among natural and artificial diamonds.
Another expert Anirudh Lidbide said that the US holds 40% of the World’s diamond market share and will affect the Indian market share, which will hit hard to the diamond market of the country.