These steps would help gem and jewellery exports from India grow manifold, the council said in a representation to commerce and industry minister Murasoli Maran. Gem and jewellery formed the single-largest exporting commodity from the country with exports for 1998-99 crossing $6.2 billion.

The council also sought operationalisation of the provisions in the exim policy allowing import of cut and polished diamonds and coloured gem stones permission for import, against replenishment/imprest, all consumables and tools for the diamond and jewellery industry within the existing provisions and grant of double weightage to diamond, gem and jewellery sector on the basis of declaration that the products exported are manufactured by SSI, cottage and tiny sector.

The council also urged for coherent policies to govern the jewellery industry, especially import of raw materials and exports of finished goods which could enable the country grab greater market share in the world jewellery trade.