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of <h1>Government Amends Export-Import Policy for Rough Diamonds; Sets New Rules for Licenses and Warehousing</h1> The Central Government has amended the Export and Import Policy, 1997-2002, regarding bulk licenses for rough diamonds. These licenses allow the import of rough diamonds with an obligation to supply them to valid license holders or re-export within 12 months. Eligible applicants for these licenses include specific companies and exporters meeting certain financial criteria. Additionally, private and public bonded warehouses in EPZ/DTA can be established for importing and re-exporting various gemstones, subject to customs duties and procedural compliance. A minimum value addition of 5% is required for the import and re-export of cut and polished diamonds and gemstones.
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