India to take charge of UN-backed Kimberley Process on January 1

INdia testament take on chairmanship of the UN-backed planetary meeting place Kimberley treat (KP) to prevent trade of conflict diamonds from January 1 for the third time, Union commerce and industry minister Piyush Goyal said.The minister focused on three key priorities during India’s leadership : “Building consumer confidence in conflict-free diamonds; accelerating digital certification and traceability; and strengthening transparency and accountability across the supply chain.” KP represents 86 countries including China, the UK, the EU, the US, and Russia.India will advance data-driven, ruled based compliance, Goyal said on Thursday. KP is an international certification scheme that regulates trade in rough diamonds and aims to prevent the flow of conflict diamonds, while helping to protect legitimate trade in rough diamonds. Earlier, India chaired KP in 2019 and 2008.“India’s KP leadership reinforces its credibility among diamond producing nations, trading centres, industry and civil society, placing us at the centre of efforts to strengthen transparency, continuity and unity in diamond governance in line with the Modi government’s commitment to fostering integrity and transparency in international trade,” Goyal said. KP members account for about 99.8% of global production of rough diamonds.India has been selected as the chair for 2026 at the KP Plenary and it will take over as KP vice-chair from Thursday (December 25) before assuming the chairpersonship in the new year, the commerce and industry ministry said in a statement.The Kimberley Process Certification Scheme (KPCS), established on January 1, 2003, is an effective mechanism for curbing the trade in conflict diamonds. KP is a tripartite initiative involving governments, the international diamond industry and the civil society. Its aim is to prevent trade in conflict diamonds used by rebel groups to finance conflicts that undermine legitimate governments.“As a leading global hub for diamond manufacturing and trade, India’s leadership comes at a time of shifting geopolitics and growing emphasis on sustainable and responsible sourcing,” the statement said.The current chair of KP is the United Arab Emirates (UAE). The chair oversees the implementation of the Kimberley Process Certification Scheme and operations of the working groups, committees and administration.According to KP’s website, conflict diamonds currently account for less than 0.1% of the world’s diamond production. KP works in partnership with the UN to prevent these diamonds from entering the legal market. Significant progress has been made in countries that previously experienced conflicts partially funded by diamonds, such as Sierra Leone, Angola, Liberia, the Democratic Republic of the Congo (DRC), and Côte d’Ivoire, it said.