Export of Rough Diamonds purchased from the Market Permitted

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....open market can be exported without any restriction. The issue was examined in consultation with Ministry of Commerce and it was clarified by the Board that there should be no bar for export of rough diamonds even if procured from domestic market provided the payment is received is freely convertible  currency. 2. The above question had also been examined by the Directorate General of. Forei....

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....of Commerce, it has been decided to clarify as follows :- (1) Third party exports of rough diamonds are allowed in terms of paragraph 8.2 of Exim Policy, 1997-2002. However, the export of rough diamonds will be further governed by the provisions of para 8.9 of Handbook of Procedures (Vol.1). (2) Third party imports of rough diamonds are not allowed. Even where the licence holder wants to take ....

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....it prescribed under para 8.9 of Handbook of Procedures (Vol. 1) is to be done then it will have to be done under para 11.8 of Exim Policy, 1997-2002. This is because the rough diamonds are appearing in the Negative List of Imports and since these rough diamonds are imported and these have to be exported within the parameters of paragraph 8.9 of Handbook of Procedures (Vol. 1) read with paragraph 1....