Vladimir Zboykov: New times have come for jewelers

How a personal collection of minerals was thrown on the scrap-heap, who is behind the destruction of gemstone consumption culture in Russia and why jewelers will soon have to choose between business and prison – all this was told to Rough & Polished...

Yesterday

Changing preconceptions in the diamond and financial markets

Eli Avidar is a man on the move…literally. In April, the former Israeli diplomat stepped away from the CEO’s office at the Israel Diamond Exchange, a position he had held for more than two years, and from the Israel Diamond Institute, where he had been...

13 august 2018

Chasing a dream…

Elina Chan, MD of Shenzhen Shi Qing Yu Zhubao Ltd completed her higher education from Xiamen University and Master’s degree from Hong Kong University. To achieve her dream to start a business, Elina gave up numerous job opportunities in Hong Kong and...

06 august 2018

Pangolin Diamonds using termites to find kimberlite indicators in Botswana

It is not a secret that the rate of kimberlite discovery in Botswana has dropped considerably and research has shown that termites can help diamond explorers have an understanding of the transport mechanism of kimberlite indicator minerals from the kimberlite...

30 july 2018

In another fifty years, we’ll have a different scale of valuation, and all those items of natural origin – including diamonds – will sharply increase in price

Within the framework of the Qatar-Russia 2018 Year of Culture, the World Diamond Museum hosts an exhibition of the Qatar Museums at the State Historical Museum in Moscow – "Pearls: Treasures of the Seas and the Rivers," that opened on 11 July...

24 july 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