Diamond Imprest Authorisation
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News: The Department of Commerce, Government of India, has introduced Diamond Imprest Authorisation (DIA) Scheme for the duty-free import of natural cut and polished diamonds. 

About Diamond Imprest Authorisation 

Diamond Imprest Authorisation
Source- Business Standard
  • It aims to enhance the global competitiveness of India’s diamond sector by providing a streamlined mechanism for duty free import of natural cut and polished diamonds, leading to value addition and boost in exports. 
  • The scheme has been introduced under the Foreign Trade Policy 2023.  
  • Key Features: 
    • Duty-free import of Natural Cut and Polished Diamonds, of less than ¼ Carat (25 Cents). 
    • Export Obligation: Mandating export obligation with a value addition of 10%. 
    • Eligibility: All Diamond exporters holding Two Star Export House status and above and having US $15 Million exports per year. 
    • The scheme does not cover the Lab Grown Diamonds (LGD). 
  • Potential Benefits: 
    • Providing a level playing field for Indian diamond exporters (particularly MSME exporters) to enable them to compete effectively. 
    • Generating more employment opportunities in the diamond sector. 
    • Encouraging the domestic diamond processing industry by facilitating ease of doing business and increasing the export of cut and polished diamond from India. 

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