National News
GJEPC leadership meets Hon’ble Finance Minister to discuss industry growth and key issues
The leadership of the GJEPC met with the Hon’ble Finance Minister, Smt. Nirmala Sitharaman, to discuss pressing issues and the way forward for the gem and jewellery industry. Kirit Bhansali, Chairman, GJEPC, and Shaunak Parekh, Vice Chairman, GJEPC, along with Sabyasachi Ray, Executive Director, GJEPC, engaged in a courtesy meeting with the Hon’ble Minister, highlighting key challenges faced by the industry.
The discussions focused on the inclusion of India Jewellery Park, Mumbai in the harmonised infrastructure list to accelerate industry growth. The leadership also extended an invitation to the Hon’ble Minister to visit the Indian Institute of Gems & Jewellery (IIGJ) Udupi, showcasing the industry’s commitment to skill development and employment generation.
National News
The Government Reduces Duty Drawback Rate For Gold, Silver Jewellery Exports.
Lower Tax Refunds Will Make Indian Gold and Silver Jewellery Exports More Expensive In The Global Market.
The Indian government has reduced the duty drawback rates—the tax refunds given to exporters for duties paid on imported raw materials—for gold and silver jewellery exports.
Gold Jewellery: The refund rate has been cut by 3.1%, dropping from Rs 1,851.99 to Rs 1,794.11 per gram.
Silver Jewellery & Articles: The refund rate has been cut by about 9%, dropping from Rs 29,501.09 to Rs 26,859.02 per kilogram.
Back in July, the government nearly doubled these refund rates to support exporters against rising global costs. However, because gold and silver prices have since fallen—reducing the actual import duty paid in real terms—the government adjusted the drawback rates downward to match current market conditions.
Impact: Lower tax refunds will make Indian gold and silver jewellery exports more expensive in the global market.
De Beers Returns To IDE After Nine Years
The Government Reduces Duty Drawback Rate For Gold, Silver Jewellery Exports.
Global Gold Exports To Get Boost With New GIFT City Sourcing Rules
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Global Gold Exports To Get Boost With New GIFT City Sourcing Rules
The Government Reduces Duty Drawback Rate For Gold, Silver Jewellery Exports.
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National News51 minutes agoMCX Bullion Futures Rise On Positive Momentum In Global Precious Metal Markets.
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National News44 minutes agoGlobal Gold Exports To Get Boost With New GIFT City Sourcing Rules
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National News35 minutes agoThe Government Reduces Duty Drawback Rate For Gold, Silver Jewellery Exports.
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