Amendment in Foreign Trade Policy - Regarding permission through designated Diamond Dollar Accounts (DDA). - 96(RE-2008) - Foreign Trade Policy

Amendment in Foreign Trade Policy - Regarding permission through designated Diamond Dollar Accounts (DDA). TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART -II SECTION -3, SUB SECTION (ii) GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF COMMERCE - NOTIFICATION No. 96(RE-2008)/2004-2009 New Delhi , Dated the 13th March, 2009 S.O. 734(E) - In exercise of powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (No. 22 of 1992) read with Para 1.3 of the Foreign Trade Policy, 2004-2009 (as amended from time to time), the Central Government hereby makes the following amendment in Foreign Trade Policy: 1. The first sub paragraph of Paragraph 4A.19 stands replaced by the following clause: Firms and companies dealing in purchase/ sale of rough or cut and polished diamonds/precious metal jewellery plain, minakari and / or studded with / without diamond and/or other stones, with a track record of at least two years in import or export of diamonds / coloured gemstones/ diamond and coloured gemstones studded jewellery / plain gold jewellery, and having an average annual turnover of Rs. 3 crores or above during preceding three licensing years, may also carry out their business through designated Diamond Dollar Accounts (DDA). This issues in Public Interest. Sd/- (R.S. GUJRAL) DIRECTOR GENERAL OF FOREIGN TRADE AND EX-OFFICIO ADDITIONAL SECRETARY TO THE GOVT. OF INDIA (Issued from File No. 01/94/180/09-10/G J/AM09/PC 4)