Why in News?

Intersessional meeting of the Kimberley Process (KP) is being hosted by India in Mumbai.

Highlights:

• India  is  currently  the  Chair  of  Kimberley  Process  Certification  Scheme  (KPCS)  since  1st January 2018. It was handed Chairmanship by the European Union during KPCS Plenary 2018, which was held in Brussels, Belgium.
• India is founding member of KPCS.

Kimberley Process:

• The Kimberley Process is an international certification scheme that regulates trade in rough diamonds. It aims to prevent the flow of conflict diamonds, while helping to protect legitimate trade in rough diamonds.
• The Kimberley Process Certification Scheme (KPCS) outlines the rules that govern the trade in rough diamonds.
• The KP is not, strictly speaking, an international organisation: it has no permanent offices or permanent staff. It relies on the contributions – under the principle of ‘burden-sharing’ of participants, supported by industry and civil society observers.
• Neither can the KP be considered as an international agreement from a legal perspective, as it is implemented through the national legislations of its participants.

Kimberley Process Certification Scheme:

• The Kimberley Process Certification Scheme (KPCS) imposes extensive requirements on its members to enable them to certify shipments of rough diamonds as ‘conflict-free’ and prevent conflict diamonds from entering the legitimate trade.
• Under the terms of the KPCS, participating states must put in place national legislation and institutions; export, import and internal controls; and also commit to transparency and the exchange of statistical data.
• Participants can only legally trade with other participants who have also met the minimum requirements of the scheme, and international shipments of rough diamonds must be accompanied by a KP certificate guaranteeing that they are conflict-free.