India Assumes Chairmanship of UN-Backed Kimberley Process, Vows Transparency in Conflict-Free Diamond Trade

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India will take the reins of the Kimberley Process (KP), a UN-backed global forum aimed at preventing the trade of conflict diamonds, on January 1. This marks India's third chairmanship of the KP, a prestigious position that has been held by 86 countries, including major diamond-producing nations like China, the UK, and the US. India's Union Commerce and Industry Minister Piyush Goyal outlined three key priorities for the country's leadership: strengthening consumer confidence in conflict-free diamonds, accelerating digital certification and traceability, and enhancing transparency and accountability across the supply chain. The KP, an international certification scheme, regulates the trade in rough diamonds and seeks to prevent conflict diamonds from entering the market. India has been a key player in the KP, having previously chaired the forum in 2019 and 2008. As the new chair, India aims to promote data-driven compliance and strengthen the KP's certification scheme. The country has been selected to lead the KP in 2026 and will assume the vice-chair position before taking over as chair. The Kimberley Process Certification Scheme (KPCS) has been instrumental in curbing the trade in conflict diamonds, which currently account for less than 0.1% of global diamond production. The KP, in partnership with the UN, works to prevent these diamonds from entering the legal market. India's leadership of the KP comes at a time when the country is positioning itself as a global hub for diamond manufacturing and trade. The move is seen as a key step towards promoting sustainable and responsible sourcing of diamonds.