Press Release :

Dated : 5th December 2014

The details of diamond trade during the last three years and the current year is as under

201112

201213

201314

2014-15 (Apr-Aug)

Imp
ort

27767
.57

21660
.03

22302
.83

9567.69

Exp
ort

28086
.65

23268
.60

26132
.52

9849.27

(US$ in Million)
With a view to promote the Gems and Jewellery sector of the country, Government has taken a number
of steps such as providing financial assistance for participation in international fairs, organizing buyerseller meets etc. under Market Development Assistance (MDA) and Market Access Initiative (MAI)
Schemes of the Department of Commerce. Government has also announced a number of measures in
the Foreign Trade Policy (FTP) 2009-14 to promote export of Gems and Jewellery such as permission to
import diamonds on consignment basis for certification/grading & re-export by specified agencies,
increasing the limit of personal carriage of Gems & Jewellery products in case of participation in overseas
exhibitions and in case of export promotion tours etc.
Gem and Jewellery Export Promotion Council (GJEPC) has mooted a proposal for establishment of Special
Notified zone for import and trading of rough diamonds. The Special Notified Zone is being created with
view to cut out middlemen and encourage overseas diamond mining companies to open their offices in
India at designated zones to sell their produce directly to Indian manufacturers. Establishment of Special
Notified Zone will give the Indian diamond industry a strong competitive advantage against other
diamond trading centres of the world like Antwerp, Dubai, etc., by saving time as well as foreign exchange
spent on travel to these trading centres or establish offices there. It will also ensure steady supply of
rough diamonds in the country.
In January, 2013, a Task Group for Diamond Sector was constituted to suggest measures to increase and
promote the diamond trade and to make India an International Trading Hub for Rough Diamonds. The
Report of the Task Group is available on website of Department of Commerce (http://commerce.nic.in/).
The Task Group had made fifteen recommendations, out of which five recommendations related to tax,
which also includes establishment of Special Notified Zone where taxes are paid only on invoices raised to
Indian companies.
This information was given by the Minister of State (Independent Charge) in the Ministry of Commerce &
Industry Smt. Nirmala Sitharaman in a written reply in Lok Sabha today.

Diamond Reserves : 25 Nov 2014

The Minister of State for Mines and Steel, Shri Vishnu Deo Sai has said that Indian Bureau
of Mines have reported that as per the National Mineral Inventory as on 1.4.2010, Statewise reserves, remaining resources and total resources of diamond are as follows:-

RESERVES

TOTAL
REMAINING RESOURCES RESOURCES

All India : Total

1045318

30876432

31921750

Andhra Pradesh

1822955

1822955

Chhattisgarh

1304000

1304000

Madhya Pradesh

1045318

27749477

28794795

In a written reply in the Lok Sabha today, Shri Vishnu Deo Sai said that the scientists of
National Geophysical Research Institute have not found a diamond field in wide swaths
under earths crust in the States of Andhra Pradesh and Tamilnadu. However, they have
recently obtained geophysical data on the lithosphere of southeast India. Based on these
geophysical data together with pressure-temperature estimates on the mantle xenoliths of
the area, they surmised that besides availability of carbon, other parameters like the
pressure, temperature, and ambient partial pressure of oxygen that are necessary for
diamond formation and growth do prevail inside the earth beneath wide swaths of the
eastern Dharwar and Baster cratons covering the States of Andhra Pradesh and
Chhattisgarh.

The Minister said that it may be noted that these geophysical results cannot guess about
the diamond reserve in the study area. They can only suggest the potential zone.

#India's #DiamondReserves as per #NationalMineralInvesntory as on 1st April 2010 with

#DiamondImports stood at US$ 9567.69 Million while #DiamondExports Stood at US$
9849.27 Million.
1 Carat = 200 milligrams ; Data released on 25th November 2014.
#PreciousStones #IndiaJewelleryMarket #Jewels #IndiaDiamondMarket #IndianDiamond
#Diamond #PreciousStones #IndiaDiamondTrade #IndiaDiamondIndustry
#DiamondJewellery #JewellerySector
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