Highlights of the Meet:

{[WFDB includes India in the Executive Committee] [Consumer Confidence upheld] [WFDB to keep off CRJP] [WFDB Mark to be launched in seven months] [Diamond trade with Côte d'Ivoire (Ivory Coast) banned] [Concern over US Patriot Act which would hamper free flow of international trade] [WFDB bourses to conduct educational programs] [Next World Diamond Congress in Tel Aviv, June 26-29, 2006] [Next Presidents Meeting in Amsterdam in Netherlands, June 24-26, 2007]}

From a modest beginning to a world class player, Indian diamond progress is just a few decades old. When the leading diamond representatives from around the globe converged last month in Mumbai, the diamond city of India, they were nothing but awed with the tremendous progress that India has made in such a short span of time. India played host to the WFDB Presidents Meeting in mid-November this year which has been a success 'beyond expectation'. Many foreign delegates and representatives of world diamond bourses praised the {{Gem & Jewellery Export Promotion Council}} and the {{Bharat Diamond Bourse}} for conducting this global conclave smoothly. {{Mohana Ravindranath}} takes stock of the entire event talking to world leaders to get an overall view of the world diamond industry. A review…

The closely knit diamond industry has come clean in most aspects all through the years. Lately, a spate of events has left diamantaires shaken over the affects in the future. Money-laundering, synthetic diamonds, HPHT diamonds, faulty certification, conflict diamonds… are issues that need immediate attention in order to keep the sanctity and integrity of the diamond industry world over, was the unanimous view expressed by the world leaders at the Presidents Meeting held at Hotel Taj in Mumbai in November. This is the first time an official gathering of the WFDB has taken place on the Indian subcontinent.%%Among the most closely watched actions by the forum was a decision to stay out of the {{Council for Responsible Jewellery Practices}} ({{CRJP}}) and the approval of a comprehensive plan that will officially launch the WFDB Mark at the {{World Diamond Congress}}in June next year. The Presidents also cautioned bourse members against handling rough diamonds originating from the Côte d'Ivoire (Ivory Coast).

The relationship between the WFDB and the CRJP was discussed during the first session of the two-day meeting. Acting on a recommendation by the WFDB's Executive Committee, the Presidents decided unanimously that the World Federation would not seek membership in the recently created CRJP. Stressing that their decision in no way represented any backtracking in the WFDB's absolute commitment to the principles of consumer confidence, the forum explained that the structure of the CRJP was problematic and did not account for the role played by representative organizations in the industry.