The diamond industry involves the exploration, mining, and trading of diamonds, which are precious gemstones valued for their beauty and hardness. Diamonds are primarily sourced from countries like Russia, Botswana, and Canada. The industry is regulated by various organizations to ensure ethical practices, particularly to prevent the sale of conflict diamonds, which fund violence and human rights abuses. Once mined, diamonds are cut and polished to enhance their appearance before being sold in markets worldwide. The Gemological Institute of America (GIA) plays a crucial role in grading diamonds based on the Four Cs: cut, color, clarity, and carat weight. This grading helps consumers understand the quality and value of the diamonds they purchase.