TMI BlogImport, trading & re-export of rough diamonds by notified entities in Gujarat Hira Bourse, Ichhapore SuratX X X X Extracts X X X X X X X X Extracts X X X X ..... chhapore Surat- Reg. Representations have been received from the Gems and Jewellery Export Promotion Council for setting up a Special Notified Zone at Surat in lines with the Special Notified Zone at Bharat Diamond Bourse, Mumbai permitted vide Circular No. 17/2015 dated 26.05.2015 . It has been submitted that Surat is the hub for diamond cutting and polishing industry dealing mostly in small gem stones. However, the availability of raw material at competitive prices to SMEs of this sector has remained a cause of major concern and thus the present request is with a view to give direct access of the SMEs of the sector to the mining companies. 2. The matter has been examined by the Board. 2.1 M/s Surat Internation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ermitted vide RBI's Circular No. 116 dated 1.4.2014 as amended from time to time. 5. The import of rough diamonds will be permitted through Air cargo mode only. No import through hand carriage or express courier service mode will be permitted. 6. The rough diamonds arriving for viewing / auctions/sales will be accompanied by a declaration of value by way of an invoice, packing list, documents of insurance and a Kimberley Process Certificate as provided in Circular no.53/2003-Cus dated 23rd June, 2003 . 7. The imported parcels meant for the purpose of viewing/auctions/sales will be initially transhipped from Air Cargo Complex at Sahar, Mumbai to Surat Hira Bourse as per extant procedures with due safeguards. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ermitted. 11. After the completion of viewing, auctions/ sales of the rough diamonds at the SNZ, these will be re-packed, lot wise, in the same manner as had been received in the SNZ no later than 60 days from the date of import. The reconstituted parcels shall be sealed in the presence of customs, representatives of the mining company, M/S SIDC and M/S DGDC, after tallying the carat weight with the import invoice, packing list and Kimberley Certificate and transferred to the Surat Hira Bourse, Surat under customs escort. 12. A successful auction/sale by bidding/sale by negotiation shall lead to a price discovery in respect of a lot or lots. The diamond mining company shall issue a sale invoice in respect of such lot or lo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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