India’s SNZ for Rough Diamond Imports to Begin July 1

RAPAPORT reported that India’s gems and jewelry industry has received the government’s approval to establish a Special Notified Zone (SNZ) at the Bharat Diamond Bourse (BDB) in Mumbai for the import, re-export and trade of rough diamonds.

As quoted in the market news,

A circular published by the government of India stated that it will permit the trading of rough diamonds from leading diamond mining companies at the SNZ.  To facilitate this, the department of Commerce and the Gem & Jewellery Export Promotion Council (GJEPC) sought a regulatory framework under the Customs Act.

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