GJ Town India

Committed to pursuing artistic craft’s excellence   Reaction of Gem & Jewellery (GJ) Industry and Trade on the Union Budget 2024-2025 that presented by Minister of Finance and Corporate Affairs Smt Nirmala Sitharaman!   1: Sumit Dassani, Partner at Dassani Brothers:   “The latest Union Budget brings promising changes for the jewelry sector, and as Dassani Brothers, we are particularly enthusiastic about the reduction in customs duty on gold and silver to 6%. This pivotal move will make these precious metals more accessible, driving increased demand and allowing us to offer our clients even greater value. We are committed to pursuing artistic excellence and technical perfection in our creations, and this policy change aligns perfectly with our mission. Lower costs will enhance our ability to provide competitive pricing while continuing to deliver intricate and magnificent adornments that celebrate life’s key moments.    This development not only ...

India a step closer to attain as the largest rough diamond trading centre   The Gem & Jewellery Export Promotion Council (GJEPC), India’s apex trade body for Gems & Jewellery-GJ) hailed the first Union Budget of Prime Minister Shri Narendra Modi 3.0 government presented by Finance Minister Smt. Nirmala Sitharaman for the seventh historic time as a game changer for the indigenous gem & jewellery industry.     Finance Minister acknowledged that India is a world leader in the diamond cutting and polishing manufacturing, which employs more than a million skilled workers.   GJEPC said that the abolition of equalisation levy and announcement of safe harbour tax on rough diamond trading will see the growth of India as the largest rough diamond trading centre as all foreign mining companies will now trade rough diamonds directly to the diamond cutting and manufacturing entities in India.   Thus the small manufacturers will get the access of raw materia...

Key summary & budget theme of the union budget focus   The Choicest Key highlights are, 1: PM’s package of 5 schemes and initiatives with an outlay of Rs 2 lakh crore to facilitate employment, skilling and other opportunities for 4.1 crore youth in 5 years. 2: For pursuit of Viksit Bharat, the budget envisages sustained efforts on 9 priorities for generating ample opportunities for all.   Despite global economy remaining under the grip of policy uncertainties, India’s economic growth continues to be the shining exception and will remain so in the years ahead. Minister of Finance and Corporate Affairs Smt Nirmala Sitharaman, while presenting the Union Budget 2024-25 in Parliament today said that India’s inflation continues to be low, stable and moving towards the 4 per cent target. Core inflation (non-food, non-fuel) currently is 3.1 per cent and steps are being taken to ensure supplies of perishable goods reach market adequately.    Budget Theme: Dwelling on ...