Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) has put forth a series of recommendations for the Union Budget 2023- 24 across verticals of gem and jewellery, to propel the exports from the current $40 billion levels to achieve the goal of $55 billion in exports in the next few years
5 Key Recommendations are as follows:
- Allow Sale of Rough Diamonds in a Special Notified Zone through the Safe Harbour rule.
- Re-Introduce Diamond Imprest License.
- Introduce a Repair Policy for Jewellery.
- Abolition of Import duty on Lab Grown Diamond (LGD) seeds.
- Reduction in Import Duty on gold, silver, and platinum to 4%.