Now Reading: India Offers 15-Year Tax Exemption to Rough Diamond Traders
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India Offers 15-Year Tax Exemption to Rough Diamond Traders
The Taxation and Other Laws (Amendment) Bill, 2026, includes a 15-year income tax exemption for eligible foreign companies trading rough diamonds through Special Notified Zones. The exemption covers income from sales between…
The Story in Brief
The Taxation and Other Laws (Amendment) Bill, 2026, includes a 15-year income tax exemption for eligible foreign companies trading rough diamonds through Special Notified Zones. The exemption covers income from sales between October 1, 2026, and March 31, 2041. It aims to help Indian manufacturers buy directly from miners, auctions and traders under a more competitive tax regime.
The measure includes sightholders, brokers, aggregators and auction entities. It also covers unworked, sawn, cleaved and bruted stones. The Gem and Jewellery Export Promotion Council welcomed the move. Industry representatives want compliance rules, Foreign Trade Policy changes and customs amendments ready before implementation at Bharat Diamond Bourse and Surat.
The Indian Opinion
The tax exemption could improve India’s appeal as a rough diamond trading centre, but claims of a rapid global shift remain premature. Much will depend on compliance rules, customs procedures and how smoothly the designated zones operate. Industry optimism is understandable, yet miners and international traders will decide based on practical costs and certainty. The policy’s results should therefore be judged after implementation, not only by its stated ambition.
Source: economictimes.indiatimes.com
This story was synthesised by AI from the source linked above.
