Bharat Bourse Pres: Ban May Encourage Compliance

150 150 Rapaport News

(Rapaport…November 15, 2005) Diamond industry officials in India told the Economic Times that they fully support the campaign to end conflict diamonds in Cote d’Ivoire (Ivory Coast) following the World Federation of Diamond Bourses (WFDB) presidents meeting in Mumbai.

In particular, such a ban was adopted by both the Kimberely Process and WFDB presidents. [Read full story.]

The president of Bharat Diamond Bourse, Anoop Mehta, told the newspaper that banning illegal diamond imports may encourage diamond traders in other Africa nations to comply with ethical practices or face similar fate.

Bakul Mehta, chairman of Gems and Jewellery Export Promotion Council agreed and added too that diamonds shouldn’t be used for illegal business of any kind. Mehta’s organization controls diamond trading in India.

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