GJEPC Presents Pre-Budget Recommendations!
Vipul Shah attends Hon'ble FM's Consultation Meeting! GJEPC Chairman Vipul Shah presented key recommendations for the gem & jewellery trade at the pre-budget meeting with Union Finance Minister Nirmala Sitharaman. Vipul Shah, Chairman of GJEPC, said, “The Indian gems and jewellery industry contributes around 10% to India’s total merchandise exports. However, the industry is currently facing some challenges due to the geopolitical scenario, the emergence of the beneficiation scheme, and issues related to rough diamond sourcing. Against the backdrop of the macroeconomic scenario, I urge the government to take measures to revive exports in this sector. I request the Hon’ble Finance Minister to introduce a Safe Harbour rule in SNZs, introduce the Diamond Imprest License, and reduce the import duty on gold, silver, and platinum bars to 4%; and introduce duty drawback on exports of platinum Jewellery to take advantage of India UAE CEPA. These measures are crucial to