Export of Rough Diamonds purchased from the Market Permitted

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....sen as to whether rough diamonds purchased from the 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 a....

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.... individual exporters on the above subject. In consultation with the Ministry 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 p....

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....diamonds are allowed as per para 8.9 of Handbook of Procedures (Vol.1) and in case export in excess of limit 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 b....