Union Budget is disappointing, unfortunate & Not in sync with Make in India!
All India Gem & Jewellery fraternity thanks H’ble FM Smt Nirmala Sitharaman ji for the Union Budget 2019 – 20 However, Gold will now become more expensive in India! Union Budget is disappointing, unfortunate & not in sync with Make in India principles: Says GJC about hike in Gold import duty in Union Budget GJC demands rollback and further reduction in gold import duty to avoid increase in domestic prices, encourage cross border smuggling and unfair trade practices. All India Gem and Jewellery Domestic Council (GJC) has termed the proposed increase in import duty of gold from 10% to 12.5% as disappointing and unfortunate; adding that Gold will become more expensive in the country. GJC had sought immediate rollback and further reduction in Import Duty on Gold. GJC has said that this will have a negative impact on the indigenous Gem & Jewellery industry, which predominantly comprises handcrafted and labour intensive craftsmen. Over 55 lakh skil...