Answer: Ministry of Commerce and Industry
Notes: The Commerce Ministry introduced the Diamond Imprest Authorization (DIA) Scheme to boost India's diamond industry's global competitiveness. Effective from April 1, 2025, it allows duty-free import of natural cut and polished diamonds under ¼ carat for export purposes. The scheme mandates a 10% value addition export obligation. It supports MSME exporters by creating a level playing field with larger players. Inspired by diamond beneficiation policies in countries like Botswana, it aims to maintain India's global leadership in the diamond value chain.
