Exempt cut, polished gemstones from import duty: GJEPC

They said that the step would help in boosting trade prospects

Gem and jewellery exporters today demanded the removal of import duty on cut and polished gemstones, saying the step would help in boosting trade prospects.

 

Vipul Shah, the chairman of Gems and Jewellery Export Promotion Council (GJEPC), said that certain issues including the import duty on cut and polished gemstone have been casting adverse impact on the local industry and the issues should be addressed by the government.

 

Speaking at the inaugural ceremony of the seventh edition of Jewellers Association Show here, Shah said, "We have been constantly demanding abolition of import duty on cut and polished gemstone." The duty exemption will provide relief to manufactures also help in boosting the trade prospects, he added.

 

Laying emphasis upon skill development, Shah said that the GJEPC is working closely with various industry stakeholders for skill development and promotion which, he said, is an integrated part in the growth.

 

Close to 300 booths have been set up in the dazzling show where diamond jewellery, gold and silver jewellery, pearls, precious and semi precious gemstonem, among others are being displayed under one roof at Birla auditorium here.

 

Over 100 varieties of loose coloured gems stones are also available this year, the show coordinator Nirmal Baradia said.

 

The show, in which 30,000 visitors are expected to come, will end on July 22.