Diamond Imprest Authorization (DIA) Scheme

Diamond Imprest Authorization (DIA) Scheme: Department of Commerce, GOI has recently introduced the DIA Scheme.

• About: The scheme will be effective from 1st April 2025. It allows import of Natural Cut and Polished Diamonds duty-free, and requires 10% value addition for eligibility.
• Eligibility Criteria: Two Star Export House status, and annual exports of $15 million or more.

• Objective: To enhance global competitiveness of India’s diamond sector.

o Retain India’s position as a global leader in the diamond value chain.

o Prevent investment outflows to diamond-mining countries.

• Impact on Industry: Supports MSME diamond exporters and safeguards domestic industry.

o Promotes employment generation for diamond assorters and craftsmen.

o Boosts exports of Cut and Polished Diamonds.

o Addresses the decline in exports and worker job losses.

• Diamond industry in India: India (referred to as ‘world’s cutlery) is the world's largest cutting and polishing centre for diamonds (India polishes over 90% of the world's natural diamonds).

o It is also the largest diamond exporter in the world.