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Industry specific- SEZ Central Ministry of Commerce and Industry Special Economic Zones Act, 2005

Issuance of Special Economic Zones (Amendment) Rules, 2024

05-Feb-2024 | G.S.R. 105(E)

The Department of Commerce has issued the Special Economic Zones (Amendment) Rules, 2024, effective from 5th February 2024.

By virtue of the amendment, the department has extended the sourcing option for gem and jewelry units by allowing them to obtain gold, silver, or platinum or free of charge from foreign buyers and export thereof to the same foreign buyer.

As per the amendment, a gem and jewelry unit may also source gold, silver, or platinum through Nominated Agencies on an outright purchase basis or loan basis, or free of charge from foreign buyers and export thereof to the same foreign buyer. Where such sourcing is on a loan basis, it shall be subjected to the conditions applicable to such transactions under the provisions of the Foreign Trade Policy in force.

For detailed information, please refer to the attached document.

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