Diamonds Current Affairs - 2019

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India to host the Kimberely Process Certification Scheme

The Plenary meeting of Kimberley Process Certification Scheme (KPCS) is to be hosted by India between November 18, 2019 and November 22, 2019. The event is hosted by Ministry of Commerce and Industry. The meeting is held annually to make sure that the trade of diamonds is conflict free.

Highlights of the meeting

During the meeting three special forums are to be held. It includes adapting to changes in diamond industry, financial inclusion and women empowerment in the diamond industry and origin and identification of diamonds. Also, several meetings of the working groups and committees of Kimbereley Process Certification Scheme.

Why is KPCS important for India?

  • Currently India is exporting 24 billion USD. In the coming years it is expected that the target will reach 1 trillion USD.
  • There are more than 1 million people employed in diamond industry in India.

About KPCS

  • India is one of the founding members of the KPCS
  • The Scheme outlines the rules that govern the trade of diamonds. The purpose of the scheme is to prevent the flow of conflict diamonds. It is not an organization. There are no offices or headquarters for KPCS. It cannot frame agreements. It simply relies on contributions of the participants, industries, governments, civil society observers
  • The KPCS has been agreed by the United Nations and the World Diamond Council.

Working of KPCS

The scheme works on certain terms and conditions. The participating countries should implement national legislation, export and import controls and should exchange statistical data. The countries should also be transparent to the scheme meetings.

What are conflict diamonds?

Conflict diamonds are rough diamonds that are used by the rebel movements to finance wars, especially in the third world countries

India elected as new vice chair of Kimberly Process for 2018

India has been elected as the vice chair for 2018 and chair for 2019 of the Kimberly Process Certificate Scheme (KPCS).

The decision in the regard was taken at the recently held KP Plenary meeting in Dubai. It was announced by the Gem & Jewellery Export Promotion Council (GJEPC).

About Kimberly Process Certificate Scheme (KPCS)

  • KPCS is a joint initiative of the governments, industry and civil societies to prevent the entry of conflict diamonds from the mainstream rough diamond market.
  • It was established in 2003 through a United Nations General Assembly Resolution. India is founder member of the scheme.
  • In India, the scheme is administered through the Department of Commerce under the aegis of the Union Commerce and Industry Ministry.

What are Conflict diamonds?

Conflict diamonds or blood diamonds are the rough diamonds used by rebel movements in the third world countries especially in Africa to finance (civil) wars with an aim to topple legitimate governments. The KPCS completely bans import and export of rough diamonds without certification.

Note: GJEPC is an organisation for the promotion of gem and jewellery industry in India. It has been established by the Union Ministry of Commerce and Industry.