Diamond Imprest Authorisation (DIA) Scheme

GS 3 – ECONOMY

Context:
Launched by the Ministry of Commerce, the DIA Scheme aims to enhance India’s diamond exports, mitigate job losses, and improve global competitiveness.

Key Features:

1. Duty-Free Import: For diamonds under ¼ carat.
2. Export Obligation: Requires 10% value addition on exported diamonds.
3. Eligibility: Exporters with Two Star Export House status and a minimum export turnover of USD 15 million.
4. Timeline: Effective from April 1, 2025.

Objectives:

1. Counter policies in diamond-mining nations.
2. Support MSMEs and protect India’s position in the global diamond value chain.

Expected Benefits:

• Boosted Exports: Strengthens India’s diamond trade.
• Job Creation: Employment in diamond processing.
• Global Leadership: Maintains India’s dominance in the industry.
• Economic Stability: Enhances resilience and supports Atmanirbhar Bharat.