GJ Town India

Good endeavour to halt CAD & To support the Make In India Craftsmen & Artisan would benefit! Recently by a notification government hiked up import tariffs on 19 items where about six items are related to GJ (Gem-n-Jewellery) industry & trade. It is to be noted that, the items are, 1: Non industrial diamond (other than rough diamonds), i.e., cut and polished diamond, 2: Diamonds-semi processed, half cut or broken, 3: Lab grown diamonds, 4: Cut and polished Colored gemstone, 5: Articles of jewellery and parts thereof, of precious metal or of metal clad with precious metal & 6: Articles of Goldsmith or silversmith wares and parts thereof of precious metal or of metal clad with precious metal. Now, industry leaders & players have reacted & casted their feedback on the tariff hike! Here are the choicest expressions! Aditya Pethe, Director, WHP Jewellers said, “This is a welcome move as it will discourage Indian retailers from importing

Recent Import Duty Hike to Strengthen Jewellery Manufacturing in India A step towards establishing Brand India jewellery! The government recently increased the customs duty on categories of diamond such as semi-processed, half cut or broken, and cut and polished coloured gemstone to 7.5 per cent, from 5 per cent earlier, and increase in import of jewellery articles from 15% to 20% in a move to narrow the current account deficit (CAD). Mr Pramod Kumar Agrawal, Chairman, The Gem & Jewellery Export Promotion Council (GJEPC) said, “GJEPC welcomes the step undertaken by the government to narrow the current account deficit. Welcoming the Increase in import duty on jewellery from 15% to 20% by Chairman GJEPC said “this move would not only help the sector strengthen jewellery manufacturing in India but also give a boost to Jewellery exports from India, a step towards establishing Brand India jewellery”. Mr. Agrawal said, “The import duty increase in cut and