India Industry Leaders To Investigate Diamond Fraud

Grading
31/10/2015 21:08

The Gems and Jewellery Export Promotion Council (GJEPC) and the Bharat Diamond Boure (BDB) have jointly formed a committee to investigate the fraud committed by the Surat and Mumbai based firms and diamond traders by illegally upgrading diamond grading reports issued by the Gemological Institute of America (GIA). Official sources said that the alleged scam highlighted by GIA will have wider impact on international trade as India is the world's largest supplier of polished diamonds with market share of over 80%. Sources said that GJEPC has appointed three trade members to carry out thorough probe and gather evidence in the issue. GJEPC regional chairman (Gujarat), Dinesh Navadiya said, "The committee is committed to bring out truth in the public domain. Whoever is the culprit will have to face the music."