Diamond industry’s significant challenges
Much needed traceability for diamond supply chain! In the recently published DMCC’s report, The Future of Trade, Provenance, Traceability and Technology said, the diamond industry faces significant challenges, including changing consumer behaviour, the rise of Lab Grown Diamonds (LGD) and the G7 import restrictions. At this critical time there is a need for advanced traceability solutions to maintain the integrity and sustainability of the diamond supply chain. Events such as DMCC’s Provenance, Traceability and Technology Forum, hosted alongside Original Luxury in May 2024, have successfully gathered hundreds of the world’s leading diamond industry stakeholders to Dubai to discuss the main challenges linked to advancing traceability solutions in the diamond industry. The forum proved that while significant progress has been made, key challenges remain in ensuring transparency, combatting the trade of conflict diamonds, and adhering to evolving regulatory requirements. This