In the tail end of the by-gone year the UPA Government wide new avatar FTP. A facility to allow import on consignment basis of cut & polished diamonds for the purpose of grading / certification has been introduced.

A New Year greeting is offered by commerce & industry minister proposing a novel SEZ-SOME domestic manufacturing zone to be incorporated in policy in June 2010 a voluminous integrated manufacturing concept. With gratitude to Anand Sharma the ushering Indian (GLOBAL as well) Diamond Jewellery Trade and the services may be freed from all domestic interstate tax bars including VAT, GST and Octroi and Service Tax as well for the said Zone(s).) Income Tax Legislation in the last budget, manufacturing definition has already debarred diamond processing as manufacturing; leaving Diamond Processing simply Services. Thus diamond jewellery more or less falls under assembling and processing services. Through Diamond Bourses let the services strengthened. With a view to promoting the aforesaid GLOBAL Trade and services, participating in domestic exhibitions likesome overseas exhibition be also facilitated. ‘Processed in India’ logo help Indian and Global (PIOs on India-visit) consumers strengthen the endeavor of doubling India’s share in global trade by 2020 (Which is the objective of India long term policy)

Time and again, Industry Trade and Services solicit the care-taking consideration “Domestic funding should have been facilitated at internationally competitive, for this unique global trade and services, LIBOR+1% rate.

CERG Advisory chmn OMKAR GOSWAMI OPINES: Price and profit signals under capitalism have done a far better job of allocating scarce resources and sustaining long periods of economics growth than any other alternative.

THE CENTRAL STATSICAL OFFICE has released figures of, nine-year period viz. 1999-2000 to 2007-08, state domestic product the verdict on the reforms from 1990s not negative nor a runaway success. The highest growth 13.1 percent a year was shown by PUDUCHERRY.

BUSINESSWORLD (18 JANUARY 2010) opines: ‘It was not a triumph of manufacturing or information technology; it was just, beauty calm and hospitality that attracted people and made Puduchery richer.’ SURAT is envisaged such Pride of place in Foreseeable Future.