Diamonds

Delhi's customs chief heard nine grievances in Mumbai and asked for a chart

The Finance Minister nominated Manish Kumar to meet the trade at GJEPC's head office on 24 August. Rough valuation, 100% checking at Mumbai and misdeclaration proceedings led the list.

By The Diamonds Desk

Corrected

What changed

The Gem and Jewellery Export Promotion Council met Manish Kumar, Chief Commissioner of Customs for Delhi, at its head office in Mumbai on 24 August.

What it means

  • An industry that has been asking for a rough valuation mechanism for years has been asked to draw its own supply chain, which is either the beginning of a real procedure or a well-mannered way to move slowly. The tell will be whether anything binds Mumbai and Surat to the same practice, because the inconsistency between the two was raised as a separate complaint from the checking rate at Mumbai, and it is the one item on the list that costs the department nothing to fix.

Key figures

distinct grievances, this desk's count9
consignment examination cited at Mumbai100%
council officers, plus two from the bourse6 + 2
figures, reliefs or timelines published0

Source: GJEPC and Delhi Customs, 24 August

The Delhi commissioner travelled to the Mumbai trade, and a minister sent him

The geography is the point rather than a detail: the Delhi commissioner travelled to the Mumbai trade, and he did so because Finance Minister Nirmala Sitharaman nominated him to after an earlier meeting with council leadership.

This is a minister-directed engagement with a single industry's customs treatment, not a routine trade call, and it is the first time this paper has carried what was actually discussed rather than the fact of a meeting.

distinct grievances, this desk's count9

What the trade raised, and what came back

Grievances Tabled9
Examined With Mumbai & Suratall 9
Commitments With A Date0
Figures Published0
Documents Requested Of The Trade2

Source: GJEPC and Delhi Customs, 24 August

Nine complaints, and rough valuation took the largest share

The council fielded Kirit Bhansali, chairman; Shaunak Parikh, vice chairman; Anoop Mehta, convener of the diamond panel; Ashish Borda, convener of PMBD; Mital Doshi, convener of BITC; and Sabyasachi Ray, executive director. The Bharat Diamond Bourse sent Mehul Shah, vice president, and Anup Zaveri, its customs convener.

Counting the distinct complaints recorded in the council's own account of the meeting, this desk makes it nine, and the largest share of the discussion went to the import and valuation of rough diamonds.

What the trade raised, and what came back
Figure
Grievances Tabled9
Examined With Mumbai & Suratall 9
Commitments With A Date0
Figures Published0
Documents Requested Of The Trade2

No consignment count, detention figure or clearance time was published The meeting produced a full agenda and no quantities. This desk does not estimate the ones nobody published. Carat Capital graphics desk, on GJEPC's own account.

Nothing was conceded and nothing was priced

The nine, in the order the account gives them. Valuation assessments on rough imports. Repeated examination of consignments, including continued 100% checking of shipments, named specifically at Mumbai Customs. Underuse of the Risk Management System, with the trade asking that assessments weigh an importer's compliance history.

Inconsistency between Mumbai and Surat in how goods are checked.

The absence of specialised trade expertise in valuation, on the argument that rough prices move with market conditions and a general valuer cannot reach a transaction-level market value. Misdeclaration proceedings triggered by minor differences in weight or description. Detention of consignment exports and re-imports over small variations in weight or measurement.

The need for better coordination between customs and other government agencies, with greater consistency of procedure and clearer guidance for the officers who handle the sector. And inconsistent interpretation caused by frequent changes of personnel.

Kumar did not concede any figure and no relief was announced. He agreed that a risk-based approach could reduce unnecessary examination while keeping safeguards against revenue leakage, according to the council's account, and said the concerns would be examined with the Mumbai and Surat formations.

What he asked for in return is the most concrete thing in the meeting: a consolidated flow chart of the rough diamond trade process, and a comprehensive list of the issues raised.

This paper attaches no value to the meeting because none has been published. No consignment count, no detention figure, no average clearance time and no revenue number appears in the account, and this desk is not going to estimate any of them.

The story so far

  1. Kagem shows rough emeralds in Jaipur for nineteen days
  2. Laopu Gold's profit rose 88.18%, and the interim dividend took 74.6% of it

Go deeper

Corrections1 note

Correction, 28 August 2026. This article was published on 27 August saying that the council's own account of the meeting recorded eight distinct grievances, and its headline said the same. The count was one short. The account's penultimate paragraph raises the need for better coordination between customs and other government agencies, together with greater consistency of procedure and clearer guidance for officers handling the sector, and this desk folded that sentence into the personnel-turnover complaint that follows it in the same paragraph rather than counting it as the separate concern it is. The correct count is nine, and the ninth item now stands in the list above. The error was this desk's own count of a published source and not a figure supplied to it. Everything else in the article was correct as published: the eight items originally listed, every name and title, the Mumbai venue, the Finance Minister's nomination of Manish Kumar, and the absence of any published figure, relief or timeline.

Method

No consignment count, detention figure or clearance time was published

Sources3