image sourced from original article at The government has granted a 30-day extension to gems and jewellery exporters to complete certain export and import obligations following cargo disruptions linked to the Middle East crisis. The relief applies to specific categories under Chapter 4 of the Handbook of Procedures 2023, which covers duty exemption and remission schemes. Exporters will not need to submit fresh applications or pay additional fees to avail of the extension.
Key changes include extending the re-export deadline for diamonds imported for certification or grading from 90 days to 120 days. Similar relaxations have been introduced for exports involving precious metals supplied by foreign buyers, re-import of jewellery sent abroad for exhibitions, and shipments linked to gold sourced through various permitted channels.
The decision comes as geopolitical tensions in West Asia, following a joint United States and Israel attack on Iran, have disrupted air and sea routes across the region. The Middle East accounts for nearly 30 per cent of India’s gems and jewellery exports, with shipments to the United Arab Emirates alone valued at about 10 billion dollars. Industry representatives have welcomed the move, saying it offers timely support amid shipment delays and uncertainty.
