The direct supply of roughs can be carried out at the Surat International Dia-trade Centre (SIDC), the country’s second special notified zone (SNZ) for roughs in Ichhapore, gathers pace.
The GJEPC has approached the mining countries and nations including Australia and Russia to convince the Central Government for allowing the consignment import of diamonds and turnover tax on the diamonds traded at the SNZ, which is still not permitted in India.
Consul General of Australia, Tony Huber had called on the GJEPC regional chairman, Dinesh Navadiya on Tuesday and promised him all assistance in convincing the Indian government on relaxing the laws to allow the diamond mining companies to sell directly at the SNZ.
The SNZ will come up in 3,000 sq feet area at the rented premises of Gujarat Hira Bourse (GHB) and will be ready before Diwali festival.
India imports about 95 per cent of the rough diamonds mined in the world valued at over $17 billion per annum, out of which about 85% is brought to Surat. The direct import of rough diamond accounts to about 60% in Surat.
The diamond mining companies sell the rough diamonds to their dedicated clients and the rest of the stock at the diamond auctions held in the trading centres like Antwerp, Dubai, Israel and Hong Kong.
Due to varying locations and timings of such sales, auctions and tenders, diamantaires from Surat require to travel to these centres almost all the year round, simply to inspect each rough diamond parcel. A net result is that the diamond manufacturers and traders have to travel all the way to these countries or establish their offices in these countries to procure rough diamonds. Hence, key personnel who can contribute significantly in diamond manufacturing are compelled to divert their time and energy in such extensive travelling.
“The main hindrance for rough diamond mining companies and dealers in bringing their goods to India is the current laws, regulations and procedures for rough diamond import and returning back unsold goods. We have sought the help of mining companies and nations including Australia to pressurize the Central Government for relaxing the norms,” said Dinesh Navadiya, regional chairman, GJEPC.
“The SNZ will save precious time spent in travelling to and from these international destinations. It will help to preserve within the country, the millions of dollars of foreign exchange that thousands of diamantaires spend on visa fees, hotels and flights” said Navadiya.
Surat SNZ
• 10 fully equipped viewing cabins in 3,000 sq feet area.
• Goods Control Room with a bulletproof despatch window
• Conference room
• Strong Room with 2 Safes
by via Surat News, Latest Surat News Headlines & Live Updates - Times of India
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