India will chair the Kimberley Process (KP), a certification scheme established in 2003 by a United Nations resolution to remove conflict diamonds from the global supply chain, in January next year. India is the founding member of the Kimberley Process Certification Scheme (KPCS), which is a global initiative of different nations, civil societies and industries to eliminate the trade in so-called conflict diamonds.\u00a0Since August 2013, the KP has 54 participants, representing 81 countries. Conflict diamonds have played a key role in financing some of the most devastating civil wars in Africa. "India, during its chairmanship will continue with the tradition and aim to support the artisanal and small-scale mining (ASM) and with capacity building, technical assistance and education on valuation, differentiation between natural and lab-grown diamonds, importance of legal and formal mining practices," India's Ministry of Commerce and Industry said in the statement. India has been actively involved in KP activities to ensure that almost 99% of the diamond trade in the world remain conflict-free. ALSO READ:\u00a0Why Unilever CEO Paul Polman stepped down? All you need to know about the crisis in 9 quick points Further, the statement noted that India has been addressing the issue of differentiation between lab-grown diamonds and natural diamonds, as well as ensuring responsible business in this area. How the Kimberley Process regulates the trade? Kimberley Process imposes some extensive requirements on its members for controlling rough diamonds trade as well as production. It regulates the trade in rough diamonds by promoting the notion that natural resources belong to the concerned mining communities and not to the militias.\u00a0Participants of the initiative are responsible for stemming 99.8% of the global production of conflict diamonds. Who normally chairs the Kimberley Process? The chairmanship for the KP is usually on a rotating basis. So far, the countries that have chaired it include Canada, India, South Africa, Russia, Botswana, the European Union, the US and China.