Seeks import duty cut on yellow metal as part of a package
The Gems and Jewellery Export Promotion Council (GJEPC) on Monday called for a comprehensive gold policy framework to make India a global hub for the industry as well as boost exports from the segment.
‘Need of the hour’
“A comprehensive gold policy framework is the need of the hour to make India a global hub for gems and jewellery, and increase exports therein,” said K. Srinivasan, convener, Jewellery Panel, GJEPC, in a statement.
“The policy will also ensure transparency and trust amongst key stakeholders including consumers. Such a policy will improve the supply chain efficiency and facilitate requisite delivery standards,” he said.
Praveenkumar Pandya, chairman, GJEPC, called for a package for the sector. This, he said, should include the formulation of a comprehensive gold policy with one authority, reduction of import duty on gold from 10% to 4% to make the fragmented gold jewellery sector more organised.
The proposals come days before the country’s first-ever gold and jewellery summit is to be held on December 1-2 in New Delhi.
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