Gem and Jewellery Exports industry an example of Aatmanirbhar Bharat and Vocal for Local
The Gem and Jewellery Export Promotion Council (GJEPC) proposes several measures like reduction in cut and polished diamonds to 2.5%, reduction in import duty of gold and other precious metals to 4%, Technology Upgradation Fund (TUF) Scheme for G&J industry; need for additional Common Facility Centres (CFCs) and many more to strengthen the gems and jewellery export sector. Colin Shah, Chairman, Gem and Jewellery Export Promotion Council (GJEPC) The measures are part of GJEPC’s recommendations for FY 22 Union Budget to the Ministry of Finance ● Reduction in import duty on Cut and Polished Diamonds from 7.5% to 2.5% ● Reduction in import duty on Precious metals Gold/Silver/Platinum from 12.5% to 4% ● Reduction of import duty on cut and polished precious and semi-precious gemstones from 7.5% to 2.5% ● Removal of Basic Custom Duty of 0.50% on rough colour gemstones ● ...