India’s SNZ to be Inaugurated on December 20

Mumbai: The India Diamond Trading Center (IDTC), a Special Notified Zone (SNZ) within the Bharat Diamond Bourse (BDB) will be inaugurated on December 20.

The IDTC–SNZ, which has been operating since July 1, will be inaugurated by Nirmala Sitharaman, minister of state for commerce and industry.

The 4,000 square foot IDTC–SNZ is a joint venture between the Gem and Jewelry Export Promotion Council (GJEPC) and BDB. It comprises nine fully equipped viewing rooms, a strong room, two safes and 24/7 security systems monitoring the area.

Mining companies including Rio Tinto, De Beers and Dominion Diamond Corporation have already completed test shipments and have given viewing dates until the end of 2016.