A high-level meeting took place on August 17, 2024, between representatives of the Gem and Jewellery Export Promotion Council (GJEPC) and Customs officials to discuss critical issues impacting the diamond and jewellery industry. The meeting was chaired by Shri Surjit Bhujabal, a Member of Customs, and saw participation from key stakeholders on both sides.

The GJEPC delegation included notable figures such as Shri Kirit Bhansali, Vice Chairman; Shri Ajesh Mehta; Shri Russell Mehta, Member – Diamond Panel; Shri Naresh Lathiya, Convener MSME; Shri Manish Jivani, Member – MSME; Shri Mehul Shah, Vice President, Bharat Diamond Bourse (BDB); Shri KK Duggal, Director Policy, GJEPC; and Shri Mithilesh Pandey, Director, Membership, GJEPC.

During the meeting, several pressing issues were brought to the forefront:

1. Import of Sawn Diamonds: The GJEPC voiced concerns over the issuance of show cause notices to diamantaires regarding customs duties on sawn diamond imports made prior to February 2, 2022.

2. Height Variance Parameter: The council requested the inclusion of a height variance parameter in Notification No. 16/2014-Customs. This adjustment would facilitate the duty-free re-import of cut and polished diamonds sent abroad for certification and grading.

3. RMS Facility Expansion: The industry advocated for expanding the Risk Management System (RMS) facility to cover exports of gem and jewelry products valued under USD 50,000 to countries other than Hong Kong and Dubai.

4. Hand Carriage of Gems & Jewellery: The GJEPC requested that hand carriage of gems and jewellery be permitted from all Indian ports, simplifying the logistics for exporters.

5. SOP for Re-import of Jewellery: A clear Standard Operating Procedure (SOP) was proposed for the re-import of jewellery sent abroad for repair and subsequent re-export.

6. Duty Drawback and Platinum Alignment: The GJEPC proposed the introduction of a duty drawback on platinum jewellery and called for aligning the duty on platinum findings with those of gold and silver.

Customs officials attentively considered the concerns raised by the GJEPC, assuring the industry representatives that these matters would be carefully reviewed. The meeting highlighted the significance of continued dialogue between the government and the industry to effectively address challenges and support the growth of India's diamond and jewellery sector.