Govt launches 'Diamond Imprest' scheme to boost diamond exports

Daily Current Affairs / Govt launches 'Diamond Imprest' scheme to boost diamond exports

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Category : National Published on: January 24 2025

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To maintain India's leadership in the global diamond industry, the Department of Commerce announced the Diamond Imprest Authorization (DIA) scheme on January 21, 2025.
Under the DIA scheme, duty-free import of natural cut and polished diamonds weighing less than ¼ carat will be allowed, provided the exporters meet the condition of at least 10% value addition.
The objective of the DIA scheme is to help India maintain its leadership in the global diamond industry, while also incentivizing exporters and ensuring the protection of domestic interests.