Retail benchmark for diamond rates in rupees released

The DRB focuses on the need to accurately depict the price of diamonds and to introduce transparency in pricing for the consumer.

It is a scientifically researched and analysed data bank and is applicable for diamonds of all sizes,qualities and grades. IDEX rate lists have been endorsed by the World Federation of Diamond Bourses WFDB,the statement said.

New GJF Chairman Bachhraj Bamalwa said,8221;The release of the benchmark highlights GJF8217;s commitment to industry as it will address the various needs of jewellers and consumers. The timing of this release is most appropriate as the industry is currently grappling under rapidly escalating prices.8221;

8220;The DRB will help make pricing of diamonds easy to understand and will be documented by a transparent and accurate process applicable to all retailers and consumers who would like to make use of this.8221;

In a simple to read format,the DRB is published every uuarter and circulated freely to members and available online for consumers to verify diamond rates offered by retailers across India.