GJEPC represents jewellery industry at Ministry of Commerce and Industry summit
The Gem and Jewellery Export Promotion Council represented India’s jewellery industry at the recent summit on enhancing global competitiveness with the Ministry of Commerce and Industry.
At the recent summit on industry, the GJEPC’s executive director Sabyasachi Ray thanked the Government of India for addressing the industry’s concerns and resolving certain issues and highlighted the current challenges facing gem and jewellery exporters. The summit was held on October 28 at the Ashok Hotel in New Delhi, the GJEPC posted on its website.
The four main concerns Ray raised at the summit included the formulation and implementation of the gold policy that the Minister of Finance announced in the Union Budget last year. Ray also articulated the need for amendments to taxation regulations to allow businesses to sell rough diamonds in Mumbai’s Special Notified Zone, a need to review the Gold Mining Policy, and the need to review the e-commerce polish for small jewellery sales.
The Minister of Commerce and Industries, Piyush Goyal, then informed the GJEPC that he has already brought up the organisation’s request to reduce import duty on cut and polished diamonds with the Minister of Finance.
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