The International Diamond Council traces its origins to the 18th World Diamond Congress of World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA), which was held in Amsterdam in May 1975. There, a joint committee that was later named the International Diamond Council, was appointed with a mandate to establish industry-wide unity in the grading of polished diamonds.

IDC’s mission is:

1. To formulate set of internationally recognised standards for diamond grading and nomenclature that would be applicable in the same way all over the world.
2. To normalise working methods for applying those standards.
3. To encourage internationally recognised institutes to apply those accepted standards and methods.

In May 1978, at the 19th World Diamond Congress in Tel Aviv, a set of basic principles called the “International Rules for Grading Polished Diamonds” was proposed for ratification by the WFDB and IDMA general assemblies. The rules were unanimously approved.

The current version of the “International Rules for Grading Polished Diamonds,” proposed by IDC, was approved by the WFDB and IDMA in 2008. While new, updated editions of the authoritative English -- as well as translations in Chinese, Russian, German, and Arabic -- have been made available, the most recent updated version of the IDC Rules will be tabled at the upcoming World Diamond Congress in Dubai, 2016.