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Liberalization: Previously only 70 members of the KJIC were allowed to import gems and jewellery. But subsequently, the Government has decided to boost this sector, therefore import liberalization has been announced along with lowering of duties. Now anybody can import after obtaining an import licence. A Defence Duty levied on imported precious goods has since been withdrawn. Import taxes on diamonds have also been abolished.

Duties on imported jewellery and gemstones valued at $ 700 a piece have been scaled down, but items costing more than $700 each attract an Education Duty.