INDIAN JEWELLER

GoI revises duty drawback rates for gold and silver

The new rates are effective 20 September 2010

Post By : Diamond World News Service On 21 September 2010 8:05 PM
In the backdrop of the current unrest in Burma over violation of human rights, The Jewelers of America (JA) has sent its requests to the U.S. Congress to amend the Burmese Freedom & Democracy Act of 2003, which bans the importation of products from Burma, in order to receive gemstones mined in Burma. It has asked the amendment to be effective upto a time when Burma agrees to the democratic reforms stated in the proposed January 2007 resolution placed before the United Nations Security Council. %% According to JA president and CEO Matthew A. Runci, “Jewelers of America has also taken immediate steps to inform its members about the situation in Burma and to advise them to source their gemstones in a manner that respects human rights”. It has issued an advisory to its members, on the issues, which adhere to the principles of U.N. Global Compact, which JA has agreed to support. %% JA has requested its members that all should confirm from their suppliers, whether the gemstones are mines in Burma, and should take a written commitment from their suppliers, for all future orders that, they will not consciously supply gems mined in Burma until democratic reformation takes place in the country.

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