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- The Ministry of Commerce has recently launched the Diamond Imprest Authorization (DIA) Scheme to boost the global competitiveness of India’s diamond sector.
- Overview of the Diamond Imprest Authorization (DIA) Scheme:
- Introduced by the Department of Commerce, Government of India, the scheme facilitates the duty-free import of natural cut and polished diamonds for export purposes. The scheme will come into effect on April 1, 2025.
- Key Features of the Scheme:
- The scheme permits the duty-free import of natural cut and polished diamonds, each weighing less than ¼ carat (25 cents).
- It requires a 10% value addition as part of the export obligation.
- Eligible exporters must hold a minimum Two Star Export House status and have annual exports of at least US $15 million.
- The scheme is a response to similar beneficiation policies in natural diamond mining countries like Botswana, Namibia, and Angola, which mandate that manufacturers establish cutting and polishing facilities for a required percentage of value addition.
- Support for MSME Exporters:
- The scheme is specifically designed to support MSMEs, ensuring they can compete fairly with larger industry players. It reinforces India’s leadership position in the global diamond industry value chain.
- India's state-owned mining company, NMDC, is set to extract 6,500 carats of diamonds, valued at approximately $3.4 million, during the current fiscal year from a mine located near the Panna Tiger Reserve in Madhya Pradesh.
- About National Mineral Development Corporation (NMDC):
- Founded in 1958 as a fully government-owned public enterprise, NMDC operates under the Ministry of Steel, Government of India.
- In 2008, NMDC was recognized as a "NAVRATNA" Public Sector Enterprise.
- The company is involved in the exploration and production of a wide range of minerals, including iron ore, copper, rock phosphate, limestone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, and beach sands.
- NMDC is India’s largest producer of iron ore, with an output of over 45 million tonnes annually from its highly mechanized mines in the Bailadila Sector of Chhattisgarh and the Donimalai mines in Karnataka’s Bellary-Hospet region.
- The company is renowned for being one of the world’s low-cost iron ore producers.
- NMDC’s high-grade iron ore is primarily sold to the domestic steel industry under long-term contracts.
- The company also operates India's only mechanized diamond mine, located in Panna, Madhya Pradesh.
- All of NMDC's mining complexes have earned a 5-Star rating from the Indian Bureau of Mines, Ministry of Mines.
- The company’s registered office is situated in Hyderabad, Telangana.
- A recent bird counting initiative at the Asan Wetland in Dehradun district, Uttarakhand, has produced remarkable results, with volunteers spotting 5,225 birds from 117 different species.
- About Asan Conservation Reserve (ACR):
- The Asan Conservation Reserve spans 444 hectares along the Asan River, extending to its confluence with the Yamuna River in Dehradun district, Uttarakhand.
- Unlike most rivers in the region that flow north to south, the Asan River follows a west to east direction.
- The reserve was established as a Conservation Reserve in 2005 under Section 36A of the Wildlife (Protection) Act, 1972.
- It holds the distinction of being the first Ramsar site in Uttarakhand.
- ACR is also recognized as an Important Bird Area (IBA) by the BNHS and BirdLife International and is renowned for its diverse birdlife, including both native and migratory species.
- Positioned along the Central Asian Flyway (CAF), the reserve is home to 330 bird species, including critically endangered species like the white-rumped vulture and Baer’s pochard, endangered species such as the Egyptian vulture, steppe eagle, and black-bellied tern, as well as vulnerable species like the marbled teal, common pochard, and Indian spotted eagle.
- In addition to its avian diversity, the reserve also supports 49 fish species, including the endangered Putitor mahseer.