Importers protest recent circular from Customs office on rough diamonds

A recent circular from the Customs office has put on hold the import of rough diamonds, rue industry officials. The circular was issued a fortnight earlier. It says importers must specify the origin, size, shape, type, colour, etc, of each such diamond in the bill of entry or shipping bill.

The Customs department has said the circular is a sequel to some recent incidents of suspected misdeclaration of value in import and export of rough diamonds.

Last year, India imported rough diamonds worth $19 billion. After value addition, export of cut and polished diamonds were $24 bn.

Importers say