Imitation Jewellery Park Proposed near Noida

Mumbai: Mr. Pramod Kumar Agrawal, Chairman of India’s Gem & Jewellery Export Promotion Council (GJEPC) today revealed that an ultra modern Imitation Jewellery Park near Noida, New Delhi is proposed.

“The Government of India is keen to increase the necessary infrastructure to give boost to the gems and jewellery industry which is at this stage reeling under slowdown. It has offered to allot 25 acre of land near Noida where the proposed jewellery park would be built,” Mr. Agrawal said, while addressing the media at the inaugural function of the IIJS Signature, 2020.

Talking about the industry concerns, Agrawal said, “We have been pursuing our govt. constantly with few concerns which requires immediate attention like reduction in Import Duty on Precious Metals Gold/Silver/Platinum from 12.5% to 4%; reduction of import duty on Cut and Polished Diamonds and Gemstones from 7.5% to 2.5%; Amendment in Taxation Laws enabling sale of rough diamonds in SNZ, Mumbai. This is very important to give a level playing field to our traders in global market.”