The Gems and Jewelery Export Promotion Council (GJEPC) called on the central government of India to create special zones (Special Notified Zones, SNZ), where diamond mining companies can open sales offices and provide direct supplies of rough diamonds for sale Indian companies.
In a long list of wishes and recommendations sent to Finance Minister Arun Jaitely last week as part of the budget for the next year, GJEPC indicated that diamond mining companies are opening trade branches in Israel, Dubai, Antwerp and other centers, but only not in India, which is due to complex tax procedures. Therefore, Indian diamantaires are forced to travel to other countries and participate in diamond auctions to purchase raw diamonds from mining companies.
GJEPC together with the Indian Diamond Exchange (Bharat Diamond Bourse, BDB) proposed the establishment of a diamond inspection center in Mumbai. The main goal of this site will be to provide direct access to diamond raw materials to members of GJEPC and BDB, who purchase diamonds in other centers.