January 22, 2025 12:36 PM

Centre introduces Diamond Imprest Authorization scheme to revive sector

In a bid to enhance the competitiveness of India’s diamond industry, the Union government has introduced the Diamond Imprest Authorization (DIA) Scheme for the duty-free import of natural cut and polished diamonds. Set to take effect from April 1, the DIA Scheme offers a streamlined process to facilitate the duty-free import of natural cut and polished diamonds under ¼ carat (25 cents), with the aim of promoting value addition and driving export growth, according to a press release by the Mi...