“Get Diamonds” platform will soon be available in Russian, Hindi, Arabic and any other languages as per demand from any countries

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TaTe Diamonds - a Namibian diamond company specialized in Namibian rough

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India’s Second SNZ for Rough Diamonds to Open in Surat

06 november 2019

The Central Board of Indirect Taxes and Customs under the Ministry of Finance (Government of India), has granted approval to the Surat International Diatrade Centre (SIDC), a SPV (Special Purpose Vehicle) set up by The Gem & Jewellery Export Promotion Council, to commence operations at India’s second Special Notified Zone (SNZ) for Rough Diamonds, as per a report in gjepc.org.
The move will give Surat-based SMEs in the diamond sector direct access to rough diamonds offered by the mining companies.
The new SNZ will be along the lines of the Special Notified Zone at Bharat Diamond Bourse, Mumbai that began operations in 2015.
SIDC will operate a facility in Gujarat Hira Bourse, Ichhapore Surat for the “import, trading & re-export of rough diamonds by notified entities”. The facility has a Strong Room and necessary commercial, security and related facilities. M/s Diamond and Gem Development Corporation Ltd. (DGDC) has been appointed as the custodian.
According to CBIC circular, the companies entitled to avail of the facility of consigning rough diamonds to India for viewing and sales from the SNZ shall be those as that are permitted vide RBI’s Circular No.116 dated 1.4.2014 as amended from time to time.

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