Union Minister Piyush Goyal announced the restoration of Diamond Imprest Licence, enabling Indian MSME diamond exporters to import cut and polished diamonds up to 5% of average turnover with 10% value addition.
Union Minister Piyush Goyal announced the restoration of the Diamond Imprest Licence at IIJS, allowing Indian MSME diamond exporters to import cut and polished diamonds up to 5% of their average turnover, with a 10% value addition. This move aims to provide a level-playing field, stop investment flight, and create jobs. The licence aligns India's diamond exports with import duty exemption in countries like China, Vietnam, and Sri Lanka.
August 10, 2024
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