- 19 Nov 2019
- 3 min read
Why in News
The plenary meeting of the Kimberley Process Certification Scheme (KPCS) is being hosted by India from 18th to 22nd November 2019 in New Delhi.
Significance of KPCS
- India has been actively involved in the development of the Kimberley Process (KP) as an important protocol in trade of diamonds which has ensured that 99.8% of the diamonds in the world are conflict-free.
- The Kimberley Process (KP) is a commitment to remove conflict diamonds from the global supply chain.
- Conflict Diamonds means rough diamonds used by rebel movements or their allies to finance conflict aimed at undermining legitimate governments.
- Currently, India exports around US $24 billion worth cut and polished diamonds which is expected to reach an export target of US $1 trillion in the upcoming years.
- The importance of KPCS is immense to India as more than one million people are directly employed by the diamond industry. The industry plays a pivotal role in sustaining the livelihoods of these people.
Kimberley Process Certification Scheme
- The KPCS came into effect from 1st January 2003 and evolved into an effective mechanism for stopping the trade in conflict diamonds.
- India is one of the founder members of the KPCS. India had earlier chaired KPCS in the year 2008.
- The Kimberley Process is a joint initiative involving Government, International Diamond Industry and Civil Society to stem the flow of Conflict Diamonds.
- It is also described in United Nations Security Council (UNSC) resolutions.
- At present, KPCS has 55 members representing 82 countries including EU with 28 members.
- It is chaired on a rotating basis by participating countries.
- Since 2003, India has been actively participating in the KPCS process and is a member of almost all Working Groups of KP (except the Working Group on Artisanal and Alluvial Production (WGAAP)).
- Department of Commerce is the nodal Department, and
- Gem & Jewellery Export Promotion Council (GJEPC) is designated as the KPCS Importing and Exporting Authority in India. GJEPC is responsible for issuing KP Certificates and is also the custodian of KP Certificates received in the country.