GJEPC focuses US$ 60 billion exports by 2022
Mr Pramod Kumar Agrawal, on Pre-Budget wish list for the gem & jewellery industry! The gems and jewellery sector contributes 7% to country’s GDP, 13.52% to India’s merchandise exports and directly employs around 5 million people of the country, thus making a significant contribution to the country’s economy while maintaining a global leadership in cutting and processing of diamonds and some category of gemstones. GJEPC has sought Govt. support in ensuring ease of doing business and thus help exporters to enhance exports in 2019-20. On behalf of the gem & jewellery industry, GJEPC seeks: 01: reduction of import duty on cut and polished diamonds as well as on cut and polished gemstones from 7.5% to its earlier of 2.5%. 02: 5% of the FOB value of exports of cut & polished diamonds in the preceding licensing year should be allowed to be reimported duty free for the exporters. 03: As a part of the comprehensive Gold Policy on the anvil, GJEPC seeks red