Govt gives 30-day relief to gems, jewellery exporters amid Middle East disruptions; shipment delays prompt easing
In response to disruptions in cargo movement linked to the Middle East crisis, the government has allowed an additional 30 days for the gems and jewellery sector to fulfil specific export and import timelines.The relaxation comes as exporters face delays in consignments to key markets in the region, which accounts for nearly 30 per cent of India’s gems and jewellery exports worth $26.2 billion during April-February this fiscal.Announcing the measure, the Directorate General of Foreign Trade (DGFT) said the extension covers select categories under Chapter 4 of the Handbook of Procedures (HBP-2023), which deals with duty exemption and remission schemes.“Facilitative provisions for the gems and jewellery sector under Chapter 4 of HBP-2023 have been incorporated in response to recent geopolitical developments in West Asia, and the export/import (as applicable) period for specific categories is being extended by 30 days without any requirement for fees or an application,” the DGFT said in a public notice.Among the key changes, the re-export window for diamonds imported for certification or grading has been extended from 90 days to 120 days. A similar extension has been provided for exports involving precious metals supplied by foreign buyers.Timelines have also been relaxed for re-import of jewellery sent abroad for exhibitions, as well as for exports linked to gold sourced from nominated agencies, outright purchases, loans and replenishment schemes.Officials said the one-time relief is intended to help exporters complete transactions smoothly amid logistical delays, while maintaining continuity in trade flows.Exporters will not be required to file fresh applications or pay any additional fees to avail of the extension, and customs authorities have been instructed to process transactions after necessary verification.Industry participants said the disruptions stem from recent geopolitical tensions following a joint US-Israel attack on Iran, which has affected air and sea routes across the Middle East.Welcoming the move, former Gems and Jewellery Export Promotion Council chairman Colin Shah said the extension provides timely support to exporters facing challenges in shipments to the region.“We hope the situation will improve soon,” he said, adding that India’s exports to the UAE are around $10 billion
