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Ali Pastorini: Selling just the idea of glamour is no longer enough

Ali Pastorini is the co-owner of DEL LIMA JEWERLY and President of Mujeres Brillantes, an association which brings together approximately 1000 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

21 may 2018

Diamonds are shifting from occasional to daily wear

Joy Alukkas started his first jewellery showroom in UAE in the year 1987, and today the Joyalukkas Group is a multi-billion global conglomerate with varied business interests. Beginning with a single jewellery room in Abu Dhabi, Joy Alukkas has grown...

14 may 2018

GJC has played a crucial role in the last 10 years in improving the compliance level in the industry

Coming from a renowned family of jewellers based in Akola, Maharashtra, Nitin Khandelwal heads Khandelwal Jewellers (Akola) Pvt Ltd. He has interests in the Plastic industry, Real estate, Health & Recreation and Cold storage industries as well...

07 may 2018

Johnson: ASM diamond sector a potential new source of supply for De Beers

De Beers recently said that it is planning to pilot a programme called GemFair that will create a “secure and transparent route” to market for ethically-sourced artisanal and small-scale mined (ASM) diamonds. GemFair would partner with the Diamond...

03 may 2018

Zimnisky: Hard to protect lab-diamond price as production methods, economics improve

Paul Zimnisky, an independent diamond industry analyst and consultant, said it will be very difficult for the lab-diamond manufactures to protect price as production processes and economics improve. He told Rough & Polished’s Mathew Nyaungwa in an exclusive...

23 april 2018

GJEPC refutes reports on discontinuation of supply of Duty Free Gold by nominated agencies to exporters

17 may 2018
Recently DGFT had released Public Notice No.06/2015-2020 dated 10th May, 2018 wherein it has been clarified that the Export Obligation period of 120 days under Advance Authorisation Scheme for Precious Metals Gold, Silver, Platinum pertains strictly for Gems and Jewellery Sector.

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Image credit: dgft.gov.in


Precious Metals Gold, Silver, Platinum had also been used for making other industrial uses and also in pharmaceutical industry.
This 120 days export obligation period under Advance Authorisation Scheme is strictly for manufacturing precious metal plain and studded jewellery.
However, immediately post release of the said DGFT Public Notice, news report on discontinuation of supply of duty free gold by nominated agencies to export community started surfacing in the Media.
“These reports have no basis and the Council has clarified the same from the Office of Director General of Foreign Trade, New Delhi which has also refuted the news and their office has not issued any circular/public notice for discontinuation of duty free supply of gold to exporters,” said Pramod Agarwal, Chairman, GJEPC.
The normal period of 90 days for duty free import of precious metals and export of jewellery remains the same for DTA units as laid down in Foreign Trade Policy.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished

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