{"id":324364,"date":"2025-01-23T16:33:15","date_gmt":"2025-01-23T11:03:15","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=324364"},"modified":"2025-01-23T16:33:15","modified_gmt":"2025-01-23T11:03:15","slug":"diamond-imprest-authorisation","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/diamond-imprest-authorisation\/","title":{"rendered":"Diamond Imprest Authorisation"},"content":{"rendered":"<p><span data-contrast=\"none\"><strong>News:<\/strong>\u00a0The Department of Commerce, Government of India, has introduced Diamond Imprest Authorisation (DIA) Scheme for the duty-free import of natural cut and polished diamonds.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559738&quot;:0,&quot;335559739&quot;:160}\">\u00a0<\/span><\/p>\n<h2><span data-contrast=\"none\">About Diamond Imprest Authorisation<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559738&quot;:0,&quot;335559739&quot;:160}\">\u00a0<\/span><\/h2>\n<figure id=\"attachment_324366\" aria-describedby=\"caption-attachment-324366\" style=\"width: 326px\" class=\"wp-caption alignnone\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-324366 \" src=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2025\/01\/Diamond-Imprest-Authorisation.png?resize=326%2C179&#038;ssl=1\" alt=\"Diamond Imprest Authorisation\" width=\"326\" height=\"179\" srcset=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2025\/01\/Diamond-Imprest-Authorisation.png?w=976&amp;ssl=1 976w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2025\/01\/Diamond-Imprest-Authorisation.png?resize=300%2C164&amp;ssl=1 300w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2025\/01\/Diamond-Imprest-Authorisation.png?resize=768%2C421&amp;ssl=1 768w\" sizes=\"auto, (max-width: 326px) 100vw, 326px\" \/><figcaption id=\"caption-attachment-324366\" class=\"wp-caption-text\">Source- Business Standard<\/figcaption><\/figure>\n<ul>\n<li><span data-contrast=\"none\">It aims to enhance the global competitiveness of India\u2019s diamond sector by providing a <em><strong>streamlined mechanism for duty free import of natural cut and polished diamonds<\/strong><\/em>, leading to value addition and boost in exports.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559738&quot;:0,&quot;335559739&quot;:160}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"none\">The scheme has been introduced under the <strong><em>Foreign Trade Policy 2023. <\/em><\/strong><\/span><strong><em>\u00a0<\/em><\/strong><\/li>\n<li><strong>Key Features:\u00a0<\/strong>\n<ul>\n<li><span data-contrast=\"none\"><em><strong>Duty-free import<\/strong><\/em> of Natural Cut and Polished Diamonds, of<strong><em> less than \u00bc Carat (25 Cents).<\/em><\/strong><\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559738&quot;:0,&quot;335559739&quot;:160}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"none\"><strong>Export Obligation:<\/strong> Mandating export obligation with a value addition of 10%.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559738&quot;:0,&quot;335559739&quot;:160}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"none\"><strong>Eligibility:<\/strong> All Diamond exporters holding Two Star Export House status and above and having US $15 Million exports per year.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559738&quot;:0,&quot;335559739&quot;:160}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"none\">The scheme <strong><em>does not cover the Lab Grown Diamonds (LGD).<\/em><\/strong><\/span><strong><em>\u00a0<\/em><\/strong><\/li>\n<\/ul>\n<\/li>\n<li><strong>Potential Benefits:<\/strong><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559738&quot;:0,&quot;335559739&quot;:160}\">\u00a0<\/span>\n<ul>\n<li><span data-contrast=\"none\">Providing a <em><strong>level playing field for Indian diamond exporters<\/strong><\/em> (particularly MSME exporters) to enable them to compete effectively.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559738&quot;:0,&quot;335559739&quot;:160}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"none\">Generating more <strong><em>employment opportunities<\/em><\/strong> in the diamond sector.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559738&quot;:0,&quot;335559739&quot;:160}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"none\">Encouraging the <strong><em>domestic diamond processing industry<\/em><\/strong> by facilitating ease of doing business and increasing the export of cut and polished diamond from India.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559738&quot;:0,&quot;335559739&quot;:160}\">\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>News:\u00a0The Department of Commerce, Government of India, has introduced Diamond Imprest Authorisation (DIA) Scheme for the duty-free import of natural cut and polished diamonds.\u00a0 About Diamond Imprest Authorisation\u00a0 It aims to enhance the global competitiveness of India\u2019s diamond sector by providing a streamlined mechanism for duty free import of natural cut and polished diamonds, leading&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/diamond-imprest-authorisation\/\">Continue reading <span class=\"screen-reader-text\">Diamond Imprest Authorisation<\/span><\/a><\/p>\n","protected":false},"author":10384,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,12039],"tags":[11872],"class_list":["post-324364","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-knolls","tag-9pm-daily-factly","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/324364","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10384"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=324364"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/324364\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=324364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=324364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=324364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}