Members of the World Diamond Council will focus on the reform of the Kimberley Process and WDC System of Warranties (SoW) when they meet in Mumbai for their 14th AGM this week.
The two-day meeting was due to kick off in the Indian city today and will see attendees discuss the sustainable development commitments of the diamond industry.
The SoW extends the assurances provided by the Kimberley Process Certification Scheme (KPCS) by requiring all diamond suppliers and diamond jewellery manufacturers to pass on a conflict-free warranty statement each time diamond goods change hands.
President of the WDC, Stephane Fischler, said: “I am motivated by the progress we have made so far in this second year of a three-year review cycle for the KPCS.
“I want to encourage our members to continue that spirit of improvement, using this year’s event to listen to one another and find common ground so that we can show the world we are one voice committed to positive change.”
This year’s event will welcome several new member organisations that strengthen the collective voice of the Council, particularly in Belgium, China and Africa.
Chairman of the GJEPC, Pramod Kumar Agarwal, said: “We are honoured to have our industry colleagues from the world with us during such an auspicious time just before the Kimberley Process Plenary in Brussels next month.
“Today we fully endorse the KP reforms process which is underway, as it will create a more organised and transparent system.
“The GJEPC believes that adopting a stronger system of warranties for industry with a contemporary view on conflict diamonds, is amongst the most important considerations impacting the future of our industry.”
Closed-door sessions on October 22 will include a review and vote on proposed revisions to the industry’s System of Warranties (SoW), including input gathered during the public review period that concluded earlier this month.
The session on October 23 will feature speeches from Agarwal, WDC President Stephane Fischler; KP Chair Hilde Hardeman; Commerce Secretary of India Mr. Anup Wadhawan and Mr. A. Parthasaraty, known as Swamiji, a pre-eminent philosopher from Vedanta Academy in India.