Amit Shah addresses 52nd India Gems and Jewellery Awards, highlighting policy reforms positioning India as a global hub
Distilled Policy Brief
- India's gems and jewellery sector is positioned to become a global hub, with Surat polishing approximately 9 out of every 10 diamonds globally and Mumbai serving as a major export pivot through the Bharat Diamond Bourse (BDB).
- To establish India as a global rough diamond trading hub, the Taxation and Other Laws Amendment Act, 2026 provides a 15-year income tax exemption to companies trading rough diamonds in Special Notified Zones (SNZs).
🎯 Prelims High-Yield Examination Points
Tax incentives under the Taxation and Other Laws Amendment Act, 2026 for rough diamond trading in Special Notified Zones (SNZs), and Surat's global share in diamond polishing.
⚖️ Mains Analytical & Syllabus Linkages
Role of the Gems and Jewellery sector in India's export-led growth, MSME empowerment, and the impact of targeted fiscal incentives on global supply chain positioning.
🎯 UPSC Prelims Practice Drill
With reference to India's gems and jewellery sector and recent policy measures, consider the following statements: 1. Surat polishes approximately nine out of every ten diamonds globally, while Mumbai serves as a major export pivot through the Bharat Diamond Bourse (BDB). 2. The Taxation and Other Laws Amendment Act, 2026 provides a 15-year income tax exemption to companies trading rough diamonds in Special Notified Zones (SNZs). Which of the statements given above is/are correct?
- [A] 1 only
- [B] 2 only
- [C] Both 1 and 2
- [D] Neither 1 nor 2
▶ Reveal Official Answer & Analytical Explanation
Statement 1 is correct as Surat polishes approximately 9 out of every 10 diamonds globally, and Mumbai acts as a major export pivot through the Bharat Diamond Bourse (BDB). Statement 2 is also correct because the Taxation and Other Laws Amendment Act, 2026 provides a 15-year income tax exemption to companies trading rough diamonds in Special Notified Zones (SNZs) to establish India as a global rough diamond trading hub.
🏛️ Historical Twin PYQ Anchor (2021)
Consider the following statements regarding the "National Clean Air Programme (NCAP)": 1. It is implemented by the Ministry of Environment, Forest and Climate Change. 2. Central Pollution Control Board acts as the sole regulatory executive body.