Piyush Goyal announces introduction of Diamond Imprest Licence
Accepting GJEPC’s long standing recommendation at IIJS Premiere 2024 Piyush Goyal, Hon’ble Minster of Commerce & Industry, Govt. of India, announced the introduction of the Diamond Imprest Licence during his interactive session at the 40th edition of India International Jewellery Show (IIJS) 2024, the flagship show of the Gem & Jewellery Export Promotion Council (GJEPC) held at the Bombay Exhibition Centre (BEC), NESCO; Goregaon. The Diamond Imprest Licence will benefit MSME exporters, which comprise a large portion of India’s gem & jewellery exporters. GJEPC has been recommending this policy initiative for a long time. The Diamond Imprest Licence ensures that Indian diamond exporters above a certain export turnover threshold will be allowed to import at least 5%, (if not 10% as it was earlier) of the average export turnover of preceding three years. This will provide level playing field for Indian MSME diamond exporters with that of their larger p...