NOTIFICATION NO. 96/2008, DT. 13/03/2009

Firms and companies dealing in purchase/ sale of rough or cut and polished diamonds/precious metal jewellery

S.O (E)-In exercise of powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (No. 22 of 1992) read with Para 1.3 of the Foreign Trade Policy, 2004-2009 (as amended from time to time), the Central Government hereby makes the following amendment in Foreign Trade Policy:

1. The first sub paragraph of Paragraph 4A.19 stands replaced by the following clause:

Firms and companies dealing in purchase/ sale of rough or cut and polished diamonds/precious metal jewellery plain, minakari and / or studded with / without diamond and/or other stones, with a track record of at least two years in import or export of diamonds / coloured gemstones/ diamond and coloured gemstones studded jewellery / plain gold jewellery, and having an average annual turnover of Rs. 3 crores or above during preceding three licensing years, may also carry out their business through designated Diamond Dollar Accounts (DDA).

This issues in Public Interest.

Sd/-

(R.S. GUJRAL)
DIRECTOR GENERAL OF FOREIGN TRADE
AND EX-OFFICIO ADDITIONAL SECRETARY TO THE GOVT. OF INDIA

(Issued from File No. 01/94/180/09-10/G&J/AM09/PC 4)

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