GJ Town India

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...

…while market is at transformation! This is in general in India that to expect from budget and especially a relaxation of tax-n-levies! De facto the Union government has determined to implement the comprehensive gold policy for India which is being impending since independent of India. Government is firm to reform the gold market India & that includes everything in the context gem-n-jewellery (GJ) industry & trade and that begins right from gold import & up to selling to consumers, including skill development & consumers’ right protection. So far as what I have learned that the road map of the government is very prudent to reform the industry & trade. Yet, let’s talk suits to the occasion! Lets’ expect from the budget yet the government is firm to give a whole of the well regularized industry & trade including exports with all EoDB! Fantastic working is on at the Union government for our gem-n-jewellery industry & trade. That has begun...