DiamondBuzz

Diamond Imprest Licence to boost India’s global competitiveness

Published

1 year ago

January 19, 2025

1,616 Views

The Department of Commerce, Government of India has introduced the Diamond Imprest Authorisation (DIA) Scheme, aiming to enhance India’s global competitiveness in the diamond sector, according to a statement from the Ministry of Commerce & Industry. Announced on 21st January 2025, the scheme will come into effect on 1st April 2025, offering duty-free imports of Natural Cut and Polished Diamonds under specific conditions to support exporters and sustain domestic industry growth.

Key Features of the Scheme:

This scheme allows the duty-free import of Natural Cut and Polished Diamonds, of less than ¼ carat (25 cents), including semi-processed, broken, half cut, etc.
This scheme mandates export obligation with a value addition of 10%.
All diamond exporters holding Two Star Export House status and above and having US $15 Million exports in each of the past 3 fiscal years, are eligible for availing the benefit under this scheme.
Exporters must have also filed all GST and IT Returns for those years.
The DIL will be for a value of 5% of the average of past 3 years export.
Maximum value of DIL for an exporter in one year will be USD 15 million.
Validity of DIL will be 1 year for import and 18 months for export.
Diamonds to be imported under Actual User Condition.
One-to-one co-relation of diamonds imported and exported is not required.
Export will be against payment in Free Foreign Exchange.
Import and Export will be from Mumbai Airport only.
Application for DIL has to be filed online using ANF-4J Form to the concerned Regional Authority.

The scheme is made in response to beneficiation policies undertaken in a number of natural diamond mining countries like Botswana, Namibia Angola, etc. where diamond manufactures are obliged to open cut and polishing facilities for a minimum percentage of value addition. This scheme is aimed towards retaining India’s position as a global leader in the entire value chain of diamond industry.

Vipul Shah, Chairman, GJEPC, said, “GJEPC extends its heartfelt gratitude to the Ministry of Commerce & Industry for this timely initiative, which will bolster MSME exporters, safeguard employment, and secure India’s position as a global leader in diamond processing. By enabling value addition and enhancing competitiveness, the scheme will rejuvenate our industry and pave the way for sustained growth and global excellence.”

The scheme is designed to provide a level playing field for Indian diamond exporters, particularly MSME exporters, enabling them to compete effectively with larger peers. It aims to prevent the potential flight of investments by Indian diamantaires to diamond-mining destinations. Additionally, the scheme is expected to generate more employment opportunities, particularly for diamond assorters and in the processing of semi-finished diamonds in factories. By facilitating Indian exporters, it seeks to protect the domestic diamond processing industry and sustain the associated employment.

Related Topics:2025 diamondbuzz nationalnews

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DiamondBuzz

41st World Diamond Congress To Tackle Geopolitics and Shifting Consumer Tides

Industry To Discuss Russian Sanctions, African Supply Dominance, and A Looming Generational Handover.

Published

6 hours ago

April 1, 2026

JewelBuzz Spread The Buzz

1,932 Views

The World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA) announced Friday that the 41st World Diamond Congress will convene in Singapore from July 12–15, 2026. The four-day summit arrives at a pivotal moment for the $100 billion jewelry market, which is currently wrestling with the rise of lab-grown alternatives and tightening transparency requirements.

Five Pillars of the 2026 Agenda

The Congress has structured its programming around five core challenges that are expected to define the industry’s trajectory through the end of the decade:

African Supply Leadership: A deep dive into the continent’s evolving role from a raw material source to a strategic power player.
The Asian Pivot: Executives will explore untapped potential in the ASEAN bloc, specifically targeting emerging middle-class wealth in Indonesia, Vietnam, and Malaysia.
Geopolitics and Sanctions: Critical sessions will address the ongoing trade-related restrictions that have reshaped global supply chains since 2022.
The Demand Deficit: Stakeholders will brainstorm strategies to revitalize the global desire for natural diamonds over synthetic competitors.
Generational Transition: A focus on integrating the “next gen” of leadership into the traditionally conservative diamond pipeline.

A Strategic Crossroads

The Congress will host an international mix of government representatives, manufacturers, and trade bodies. It noted that the ASEAN region represents a vital frontier for trade as traditional Western markets mature.

The timing of the event is strategic; it will run concurrently with the Singapore International Jewelry Expo (SIJE), bridging the gap between raw supply discussions and the high-end retail sector.

Market Outlook

For many in attendance, the primary concern remains the “natural vs. lab” debate. As Gen Z and Millennial buyers prioritize ethical sourcing and price transparency, the industry is under pressure to refine its narrative. The Congress is expected to serve as the primary forum for establishing a unified marketing front to bolster natural diamond demand.

Registration for the event remains open, with the industry’s top brass expected to finalize the roster of panel participants in the coming weeks.