Proposal for SNZ status to Gujarat Diamond Bourse sent to GoI

Surat, DeshGujarat

Surat may get India’s second special notified zone for diamonds.

Gems and Jewelry Export Promotion Council(GJEPC) has sent proposal in this regard to central government four days back.

The move proposes SNZ status for Gujarat Diamond Bourse and later transfer of SNZ status to Surat Diamond Bourse once it is constructed.

Central government has already given SNZ status to Mumbai recently.

GJEPC Chairman Vipu Shah and Regional Chairman Chandrakant Sanghvi in a press conference in Surat said that Ichchapor(Surat) based India’s first Gems and Jewelery Park(SEZ) operator Gujarat Diamond Bourse has all facilities to have SNZ status. Gujarat Diamond Bourse committee has passed a resolution demanding SNZ status and sent it to central government.

Gujarat Diamond Bourse has its own building. It has custom facility too. Surat Diamond Bourse will take four years to materialize. Once its construction is over, SNZ status can be transferred to it.

With SNZ status, global diamond mining companies will be able to sell rough consignment through import facility. They will get benefit of turnover tax. Middlemen in Antwerp and Dubai will be out of the business and rough will be auctioned in Surat itself at cheaper rates.

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