RAPAPORT… The Indian government has permitted rough-diamond importers to correct errors on Kimberley Process (KP) certificates, removing an obstacle that had been preventing the clearance of goods.
The country’s Directorate General of Foreign Trade has empowered the Gem & Jewellery Export Promotion Council (GJEPC) to approve fixes to technical or typographical mistakes. The new rule applies to pending and future rough shipments, the GJEPC said in a statement Wednesday.
“The notification is a step towards further enhancing [the] ease of doing business in the sector,” said GJEPC chairman Colin Shah. “This will smoothen the clearance [of] import parcels of rough diamond[s] held due to technical errors at the customs end.”
Image: Rough diamonds. (Rapaport News)
India Allows Importers to Fix Errors on KP Certs
The Bottom Line
- India's Directorate General of Foreign Trade authorized the Gem & Jewellery Export Promotion Council to approve corrections on KP certificates.
- The new policy applies to both pending and future rough diamond shipments.
- This change aims to facilitate smoother customs clearance by addressing technical or typographical errors on import documents.
More Stories
Michael Hill Reports Sales Rise Across All Segments
Same-store revenue up in Canada, Australia and New Zealand.
Luk Fook Revenue Rises as Diamond-Jewelry Demand Improves
Group opens store in London, entering European market for first time.
91ct. Starlight Diamond Necklace to Headline Christie’s Shanghai
William Goldberg jewel carries high estimate of $2.7 million.
