Goyal states restoring Diamond Imprest Licence for gems, jewellery sector

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Goyal states restoring Diamond Imprest Licence for gems, jewellery sector - Business Standard

Quick Summary:

Commerce and Industry Piyush Goyal on Saturday announced restoration of Diamond Imprest Licence, which allows import duty exemption on cut and polished diamonds up to a specified limit.

"Shri Piyush Goyal, Minister of Commerce and Industry announced the introduction of the Diamond Imprest Licence," the GJEPC said in a statement.

In the absence of this licence, the cut and polished diamonds were getting imported in Dubai and getting assorted there and re-exported, impacting India's exports and jobs in the sector.