×
147
Fashion Jobs
NIKE
India Sports Marketing Manager
Permanent · Bengaluru
NIKE
Senior Dynamic Application Security Tester – Cis, Icc, India
Permanent · Bengaluru
NIKE
Lead Technical Product Manager – p&m, Icc, India
Permanent · Bengaluru
NIKE
Lead Product Manager, India – ed&a Icc
Permanent · Bengaluru
PVH
Manager, Business Solutions
Permanent · Bengaluru
NIKE
Senior Product Manager - Enterprise Service Management (Esm), India – Tech Ops Icc
Permanent · Bengaluru
NIKE
Identity And Access Management (Iam) Security Operations Engineer, India – Cis Icc
Permanent · Bengaluru
NIKE
Expert Security Incident Coordinator, India – Cis Icc
Permanent · Bengaluru
NIKE
Senior Security Engineer, India – Cis Icc
Permanent · Bengaluru
NIKE
Talent Acquisition Coordinator – India, Icc
Permanent · Bengaluru
SS HOMME - SARAH & SANDEEP
Marketing And PR Intern
Internship · MUMBAI
TARAMA
Graphic Designer
Internship · MUMBAI
MASAR GROUP
IT Support
Permanent · DUBAI
NIKE
Sap Security Engineer – Sec Tech, Icc, India
Permanent · Bengaluru
TLM CONSULTANCY
Merchandising Assistant
Internship · MUMBAI
NIYOSSHIC LUXURY CONSULTANCY
Social Media Intern
Internship · MUMBAI
NIYOSSHIC LUXURY CONSULTANCY
PR Assistant
Internship · MUMBAI
NIKE
Senior Dev Ops Engineer – Sec Tech, Icc, India
Permanent · Bengaluru
OUTHOUSE JEWELLERY
Communication Designer
Permanent · MUMBAI
OUTHOUSE JEWELLERY
Store Manager
Permanent · NEW DELHI
NIKE
Senior Sap Application Engineer- Sec Tech, Icc - India
Permanent · Bengaluru
MAC
Make up Artist - Mac - Nykaa Pacific Rajori
Permanent · Delhi
Published
Feb 3, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

GJEPC welcomes new government budget for jewellery industry

Published
Feb 3, 2021

The Gem and Jewellery Export Promotion Council has welcomed the measures proposed for the jewellery industry in the new Union Budget for 2021 to 2022 including reductions to import duties on gold and silver. 

The GJEPC has praised the government's move to reduce import duties on precious metals - GJEPC India- Facebook

 
The upcoming government budget has proposed to reduce the import duty on both gold and silver from 12.5% to 7.5%, the GJEPC reported on its website, praising the move. The budget, conceived by Minister for Finance Nirmala Sitharaman, also proposes a reduction on duties on platinum to 10%. 
 
“We sincerely thank the Hon’ble Prime Minister and Hon’ble Finance Minister for this bold and pragmatic growth-oriented budget,” said GJEPC chairman, Colin Shah, in a statement, the GJEPC reported.

“The reduction in import duty from 12.5% to 7.5% will help the gem and jewellery exports become globally competitive.  Reduction in duty on raw materials would give the much-needed boost to the sector and help it to move to the next level.”
 
“High duty on precious metal had made our exports uncompetitive leading to large Indian diaspora/NRI, moving to Dubai, Hong Kong or other centres to buy jewellery which was largely impacting the employment as well as business in India,” said Shah.

“Along with this the decrease of import duty on jewellery findings to 10% will help the jewellery manufacturer exporters in a big way.”
 
The GJEPC also welcomed the move to set up a new Securities and Exchange Board of India (Sebi) regulated gold exchange. This will help to, “ease marketability and sale of gold,” said Shah. 

Copyright © 2021 FashionNetwork.com All rights reserved.