Home India Ministry of Commerce and Industry Addition of Gemological Science International (GSI) Pvt. Ltd...
Date: 07-Feb-2023 Category: Extra Ordinary State: Union Government Country: India

Addition of Gemological Science International (GSI) Pvt. Ltd., Mumbai, Maharashtra, India in Para 4.42 of Foreign Trade Policy (2015 20)

Issued by Ministry of Commerce and Industry · Directorate General of Foreign Trade

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Executive Summary & Key Takeaways

What it means

  • The notification issued by the Ministry of Commerce and Industry, Department of Commerce, adds Gemological Science International (GSI) Pvt. Ltd., Mumbai, Maharashtra, India to the list of agencies permitted to import diamonds for certification/grading and re-export under the Foreign Trade Policy 2015-20.

Key Changes

  • Para 4.42 of the Foreign Trade Policy 2015-20 is amended to include Gemological Science International (GSI) Pvt. Ltd., Mumbai, Maharashtra, India as serial number (6).
  • GSI is now authorized to import diamonds for certification/grading and re-export.

Impact Analysis

Stakeholders

  • Consumers: Could benefit from potentially improved quality assurance and standardization in the diamond trade.

Suggested Action Items

  • Other Certification Agencies: Should assess their competitive position and adjust strategies as needed.

Key Entities Referenced

Foreign Trade (Development and Regulation) Act, 1992: The Act provides the legal framework for the development and regulation of foreign trade in India. Foreign Trade Policy 2015-20: A set of guidelines and procedures issued by the Indian government to promote and regulate foreign trade. Para 4.42 lists agencies permitted to import diamonds for certification/grading and re-export. Gemological Science International (GSI) Pvt. Ltd.: A gemological laboratory based in Mumbai, Maharashtra, India, now authorized to import diamonds for certification/grading and re-export. Directorate General of Foreign Trade (DGFT): The government agency responsible for implementing the Foreign Trade Policy.
Official Source Record View Original Source →
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रिज(cid:7021)(cid:7069)ी स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.x-xअxG.-ID0H8x0x2x2 023-243518 CG-DL-Exx-x0G8I0D2E2xx0x2 3-243518 असाधारण EXTRAORDINARY भाग II—ख(cid:7003) ड 3—उप-ख(cid:7003)ड (ii) PART II—Section 3—Sub-section (ii) (cid:7079)ािधकार से (cid:7079)कािशत PUBLISHED BY AUTHORITY सं. 587] नई (cid:7408)द(cid:7016)ली, मगं लवार, फरवरी 7, 2023/माघ 18, 1944 No. 587] NEW DELHI, TUESDAY, FEBRUARY 7, 2023/MAGHA 18, 1944 ubZ fnYyh] 7 Qjojh] 2023 56 .—le;≤ ij ;Fkkla”kksf/kr fons'k O;kikj uhfr] 2015&20 ds iSjk 1-02 ds lkFk ifBr fons'k O;kikj ¼fodkl ,oa fofu;eu½ vf/kfu;e] 1992 dh /kkjk 5 ds rgr iznr 'kfDr;ksa dk Ikz;ksx djrs gq, dsUnz ljdkj ,rn~}kjk fons”k O;kikj uhfr] 2015&20 ds iSjk 4-42 esa fuEufyf[kr la”kks/ku vf/klwfpr djrh gS% fons”k O;kikj uhfr] 2015&20 ds iSjk 4-42 esa fuEufyf[kr izfof’V dks Øe la[;k ¼6½ ij “kkfey fd;k x;k gS% ^^¼6½ tseksyksftdy lkabl baVjus”kuy ¼th,lvkbZ½ izk- fy- eqEcbZ] egkjk’Vª] bafM;k^^ tseksyksftdy lkabl baVju”s kuy ¼th,lvkbZ½ izk- fy- eqEcbZ] egkjk’Vª] bafM;k dks ghjsa dk vk;kr djus gsrq izek.ki=@xszfMax tkjh djus ,oa iqu% fu;kZr vuqer djus gsrq ,tsalh ds #i esa “kkfey fd;k x;k gSA [Qk- l-a 01@94@180@087@,,e 21@ihlh&4] larks"k dqekj lkjaxh] egkfuns'kd fons'k O;kikj vkSj insu vij lfpo MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) 861 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] (DIRECTORATE GENERAL OF FOREIGN TRADE) NOTIFICATION New Delhi, the 7th February 2023 No. 56/2015-2020 Subject: Addition of Gemological Science International (GSI) Pvt. Ltd., Mumbai, Maharashtra, India in Para 4.42 of Foreign Trade Policy (2015-20) S.O. 616(E) .—In exercise of powers conferred by Section 5 of Foreign Trade (Development and Regulation) Act, 1992, read with Paragraph 1.02 of the Foreign Trade Policy, 2015-20, as amended from time to time, the Central Government hereby notifies the following amendment in paragraph 4.42 of Foreign Trade Policy, 2015-20: The following entry is inserted at serial no. (6) in para 4.42 of Foreign Trade Policy, 2015-20: “(6) Gemological Science International (GSI) Pvt. Ltd., Mumbai, Maharashtra, India.” Effect of this Notification: Gemological Science International (GSI) Pvt. Ltd., Mumbai, Maharashtra, India is added as an agency permitted to import diamonds for certification / grading & re-export. [F. No. 01/94/180/087/AM21/PC-4] SANTOSH KUMAR SARANGI, Director General of Foreign Trade Ex-officio Secy. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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