RBI revises scheme for import of gold

Instructions regarding import of gold on consignment basis, LC restrictions have been withdrawn.

Post By : IJ News Service On 25 July 2013 3:13 PM
The International Diamond Manufacturers Association (IDMA) president Moti Ganz’s statement on the need to solve issues of non-compliance to the Kimberley Process (KP) and alleged human rights abuses in the Marange alluvial diamond fields in Zimbabwe, was released by the IDMA. Ganz said, "Following the visit of the Kimberley Process Review Mission to Zimbabwe and its consequent recommendations, the World Diamond Council (WDC) has called for decisive action from government participants in the Kimberley Process (KP) to ensure that issues of non-compliance to the KP and alleged human rights abuses in the Marange alluvial diamond fields in Zimbabwe are properly resolved. "%% Ganz added that "IDMA wishes to emphasise its unequivocal support for the WDC's position, calling attention to the WDC's resolve that if the KP review commission's recommendations are not implemented and addressed in an acceptable timeline, a call for the suspension of Zimbabwe from the Kimberley Process Certification Scheme is the only route to follow". %% "Diamond manufacturers fulfill a crucial role in the diamond supply pipeline. We can and will not, at any time and under any circumstances, allow rough diamonds to be manufactured by our members, or by anyone else if we can help it, unless they have been sourced and purchased in compliance with the KP certification system. The diamond industry and trade is going through a very serious downturn and more than ever before, diamond jewelry consumers need to be absolutely confident that the diamond polished by us are indeed a significant means for growth, employment and prosperity in the regions where these diamonds were sourced," the IDMA president said.

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