The Directorate General of Foreign Trade (DGFT) Government of India, through notification no. 43 /2015-2020 dated 22nd November 2021, has announced that import or export of rough diamonds will be permitted only to members registered with the Gem & Jewellery Export Promotion Council (GJEPC), which is the designated importing and exporting authority for the Kimberley Process Certification Scheme (KPCS), says a press release from GJEPC.
Through this notification, the Central Government has revised the policy conditions governing import and export of rough diamonds falling under chapter-71 of Schedule (I) of ITC(HS) 2017 and Schedule (II) of ITC(HS) 2018.
Welcoming the amendment, Colin Shah, Chairman, GJEPC, commented, “As the largest manufacturing and exporting centre of cut and polished diamonds, India’s commitment against the proliferation of conflict diamonds is highlighted with this act of the Government. It gives GJEPC and its members power to self-regulate and continue with the impeccable standards that the Indian diamond industry as a brand put forth to the world.”
The KPCS came into effect from 1st January 2003 and evolved into an effective mechanism for stopping the trade in conflict diamonds. India was one of the founding members of KPCS. Currently, KP has 56 participants, representing 82 countries, with the European Union and its Member States counting as a single participant. KP members account for approximately 99.8% of the global production of rough diamonds.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
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