Imports of gold and other precious metals will attract 3% IGST, payable by the importing bank /nominated agency, the Central Board of Excise & Customs (CBEC) has clarified in its latest set of FAQs related to the gems and jewellery industry.

Reports in the Indian media say that ICEX, which had recently got SEBI permission to trade in Diamond Futures contracts, has completed a week of mock trading in a run up to opening up for business reportedly from August 28, 2017 onwards.

Peregrine Diamonds Ltd. has announced the completion of its rights offering of $10,282,603, announced on July 10, 2017.

Authorities in the district jail in Surat in association with a local diamond manufacturer have initiated a programme to train select inmates in the art of cutting and polishing diamonds so that they can find employment more easily on completion of their term, according to a media report.