Diamonds Current Affairs
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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.