India Reduces Small-sized Diamond Restrictions

Mineweb reported that the Indian government has decided to allow small cut and polished diamonds to be exported for certification by authorized laboratories and then reimported duty free.

As quoted in the market news:

The new ruling applies to small sized cut and polished diamonds. The earlier exemption used to only apply to stones weighing 0.25 carats and above. However, now it will apply to all stones weighing a minimum of 0.10 carats..

The diamond industry has been beseeching the government to exempt the small carat stones, given the huge demand from the watch industry.

Vipul Shah, chairman of the Gems and Jewellery Export Promotion Council said the step would help boost exports of small sized diamonds.

Click here to read the full Mineweb report.