Notification No. 37 (RE-00)/1997-2002 dated the 11^th October, 2000
Public/Private Bonded Warehouseseligible to transact their business of import, supply and re-export of rough diamonds through the designated Diamond Dollar Account.

In exercise of powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (No.22 of 1992) read with paragraph 1.3 of the Export and Import Policy, 1997-2002 (incorporating amendment made upto 31.3.2000), the Central Government hereby makes following amendments in the Export and Import Policy, 1997-2002 (incorporating amendment upto 31.3. 2000

1.      The following shall be added at the end of paragraph 8.13(a): -

“The licence holders of Public/Private Bonded Warehouses operating under paragraph 8.13 of EXIM Policy shall also be eligible to transact their business of import, supply and re-export of rough diamonds through the designated Diamond Dollar Account. Even for the Private/Public Bonded Warehouses, the Scheme is optional and if they wish to continue to use the Rupee Account, they shall be allowed to do so under the existing EXIM Policy. The eligibility criteria mentioned above for diamond firms and companies shall not be applicable in case of Private/Public Bonded Warehouses”.

2.      Paragraph 8.28 shall be amended to read as under: -

        “These units may import their essential inputs for export production. They may also source gold/silver/platinum of fineness not less than 0.995/0.999/0.900 respectively through the nominated agencies”.

This issues in Public Interest.