India to get synthetic detection centre next month: De Beers

India is the world's largest centre for diamond cutting and polishing

India to get synthetic detection centre next month: De Beers
Dilip Kumar Jha Mumbai
Last Updated : Sep 16 2015 | 1:04 AM IST
De Beers, the premier supplier of rough diamonds to the world, plans to set up a synthetic diamond detection centre in India next month. It has been a request from Indian processing companies. It might install the machines either in Surat or at Bharat Diamond Bourse (BDB), here. In March, it had set up a grading and inscription facility in Surat, at an investment of Rs 60 crore. There are a few synthetic diamond detecting machines at BDB but none are available to identify synthetic diamonds in ornaments. The BDB machines have a long waiting list for testing.

“We will launch a new low-cost, high-volume synthetic melee screening and referrals testing service in India in October,” said Jonathan Kendall, president of International Institute of Diamond Grading & Research, part of De Beers.

Adding: “We have renowned expertise in the application of diamond technology and India is the world’s largest centre for diamond cutting and polishing. Launching (this) service in India for screening synthetic melee and testing referrals will support both trade and consumer confidence.”

“A lot of mixing of synthetic with natural diamonds is happening. The new detection centre would help the industry to segregate (these),” said Sanjay Kothari, a sector veteran.

In recent years, import of synthetic diamonds has increased from many places, including Singapore, Dubai and Hong Kong. The Gems and Jewellery Export Promotion Council (GJEPC) has urged the government to fix a separate HS Code (under which imported goods are identified). Currently, synthetic diamonds are imported under the natural diamond code.

GJEPC data show rough synthetic diamonds’ import was $86 million in 2013-14, a 21-times increase in 10 years from a mere $4 mn in 2004-05.

“We had requested global diamond miners, including De Beers and Alrosa, for setting up such machines in India. We had also urged Gemological Institute of America. It is good that De Beers has honoured our request. We believe others would follow,” said Sabyasachi Ray, executive director, GJEPC.

Around nine-tenths of all rough diamonds mined in the world are processed in India.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Sep 15 2015 | 10:33 PM IST

Next Story