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of <h1>Import Bill Limit for Rough Diamonds Increased to $300K for Non-Status Holders in Gems & Jewelry Sector.</h1> The circular addresses the liberalization of import bill receipt procedures for non-status holder importers in the gems and jewelry sector. It increases the limit for direct receipt of import bills/documents for rough diamonds from USD 100,000 to USD 300,000. Authorized Dealer Category-I banks can process these transactions if they comply with the Foreign Trade Policy, exercise commercial judgment, and conduct due diligence, including KYC and financial assessments of importers. Other conditions from the previous circular remain unchanged. The directive is issued under the Foreign Exchange Management Act, 1999, and banks are advised to inform their clients accordingly.
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