Customs exemption for raw pearls and precious stones permits duty free import when made under specified replenishment licences. Exemption from customs duty is granted for raw pearls, natural or cultured, and precious or semi precious stones (excluding rough diamonds), unset and uncut, under Chapter 71 when imported into India, provided imports are made under a Replenishment Licence or a Replenishment Authorisation for Gems issued in accordance with the Foreign Trade Policy; the relief covers basic and additional duties as specified and is subject to the licence conditioned procedural requirements.