National News
GJ sector sees 84.39% growth in FDI
India’s foreign direct investment (FDI) inflows have witnessed a remarkable 45.4% surge in the first half of FY24, reaching USD 29 billion.
Even more dazzling is the performance of the gems and jewellery sector, which saw an 84.39% jump in FDI, signalling renewed investor confidence in this crucial industry.
India recorded a sharp 45.4% increase in overall Foreign Direct Investment (FDI) inflows during April-September 2024, reaching USD 29 billion (INR 2.49 lakh crore), compared to USD 20 billion (INR 1.68 lakh crore) in the same period a year earlier, according to data from the Department for Promotion of Industry and Internal Trade (DPIIT).
The gems and jewellery sector also witnessed an impressive surge in FDI inflows, rising by 84.39% to USD 45.7 million (INR 381.67 crore) during April-September 2024, compared to USD 24.8 million (INR 205.29 crore) in the corresponding period in 2023. This marks a significant recovery in investment inflows into the sector, which had seen a fluctuating trend in recent years.
According to DPIIT data, total FDI equity inflows into India have been on an upward trajectory, increasing from USD 40 billion in 2015-16 to USD 44.42 billion in 2023-24. The latest data indicates strong investor confidence in India’s economic policies and business environment, despite global uncertainties.
National News
GJEPC Unveils GCC Customs Guide for Gem & Jewellery Exporters
Comprehensive Guide Details Duties, VAT, Compliance Norms and FTA Benefits to Streamline India–Gulf Jewellery Trade
GJEPC has released a GCC Customs Guide covering import procedures for the UAE, Saudi Arabia, Qatar, Oman, Bahrain and Kuwait, to help exporters navigate compliance requirements and shipment planning.
The GCC remains a key market for India, with exports of about $8 billion in FY 2024-25, contributing nearly 27% of global shipments from the sector. The guide outlines customs duties, VAT Structures, Documentation Norms, Hallmarking and Assay Rules, Kimberley Process and CITES Compliance, Temporary Import Provisions, Port Procedures and Clearance Timelines.
The guide notes that GCC countries broadly follow a 5% import duty regime, with country-specific VAT and regulatory requirements, while CEPA and FTA benefits are available in markets such as the UAE and Oman subject to origin documentation.
Designed as a practical reference, the guide aims to reduce customs delays, compliance costs and entry barriers, particularly for new exporters targeting the Gulf region.
source:GJEPC
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