New Delhi: In a significant policy clarification, the Government of India has brought jewellery under the ambit of Free Trade Warehousing Zones (FTWZ), extending the scope of the existing framework governed by the SEZ Rules, 2006.
Under a Circular dated 3rd March 2016, FTWZ units were already permitted to undertake storage and vaulting of precious commodities such as gold, silver, platinum, gems, and precious stones. The latest clarification now explicitly includes jewellery within this framework, effectively completing the value chain within the SEZ-linked FTWZ ecosystem.
This move follows consistent representations by GJEPC to the Government, highlighting the need to broaden the FTWZ framework to include jewellery, thereby enabling secure storage and display of high-value inventory within India.
Mr. Kirit Bhansali, Chairman, GJEPC, welcomed the move, stating, “We sincerely thank Mr. Piyush Goyal, Hon’ble Minister of Commerce & Industry, for this timely and forward-looking decision. The inclusion of jewellery under the FTWZ framework addresses a critical need of the industry in the current global environment. It enables secure storage and efficient movement of high-value inventory, while strengthening India’s position as a reliable and competitive trading destination for the global gems and jewellery community.”
This move addresses a critical gap in the existing framework by enabling finished jewellery to be stored, displayed, and traded within FTWZs, something that was not clearly permitted earlier. It also provides a secure mechanism for handling high-value inventory, which is particularly important during periods of global uncertainty. At the same time, it supports trade continuity by facilitating smoother consignment-based operations and more efficient global redistribution from India.
FTWZs in India offer a viable, well-regulated environment backed by SEZ infrastructure, providing both stability and operational efficiency. The move positions India as an additional, dependable hub within the global supply chain, offering flexibility to international traders while reinforcing confidence in India’s regulatory and trading ecosystem.
