In response to the disruption in cargo movement associated with the Middle East crisis, the government has allowed the gems and jewelery sector an additional 30 days to meet specific export and import deadlines.The relaxation comes as exporters face delays in consignments to key markets in the region, which accounts for about 30 per cent of India’s $26.2 billion gems and jewelery exports during April-February this fiscal year.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 rebate schemes.“Convenient provisions for the gems and jewelery sector under Chapter 4 of HBP-2023 have been included in response to recent geopolitical developments in West Asia, and the period for export/import (as applicable) for specific categories is being extended by 30 days without any duty or requirement of application,” DGFT said in a public notice.In the key changes, the re-export window for diamonds imported for certification or grading has been increased from 90 days to 120 days. A similar extension has also been provided for exports involving precious metals supplied by foreign buyers.Timelines for re-import of jewelery sent abroad for exhibitions as well as exports involving gold received from nominated agencies, outright purchases, loans and replenishment schemes have also been relaxed.Officials said the one-time relief is aimed at helping exporters smoothly complete transactions amid logistics delays while maintaining continuity in trade flows.Exporters will not be required to file fresh applications or pay any additional fees to avail the extension, and customs officials have been directed to process the transactions after necessary verification.Industry participants said the disruption stems from recent geopolitical tensions following the joint US-Israeli attack on Iran, which has affected air and sea routes throughout the Middle East.Welcoming the move, Colin Shah, former chairman of the Gems and Jewelery Export Promotion Council, said the expansion provides timely assistance to exporters facing challenges in shipments to the region.He said, “We hope that the situation will improve soon.” He said that India’s exports to UAE are about 10 billion dollars.
