Trump Tariff Troubles: GoI should allow reverse job work from SEEPZ, says Kirit Bhansali, Chairman, GJEPC
With the steep Trump tariffs now having come into play, the cutting, polishing, manufacturing and export hubs of India are facing severe problems, with joblessness and unit-closure a distinct possibility. The silver lining is that the GJEPC is hopeful of a solution, particularly in view of the advocacy efforts of its US counterparts, who are also working hard to impress upon the Trump administration that the high tariffs will have a deleterious effect on the US jewellery industry as well. In a free-wheeling conversation with Suneeta Kaul, Kirit Bhansali, Chairman, GJEPC, talks about the impact of the tariffs, the steps being taken to bring about some relief to the industry, its expectation from the government, and more.
Augmont Expands SPOT Gold Trading Platform with Lab-Grown Diamond Integration for Global Markets
Trading of Lab-Grown Diamonds through SPOT 2.0 Platform Enables Buyers and Sellers to Trade with Transparency and Confidence
India's Commerce Ministry Proposes Task Force to Boost Gem and Jewellery Exports
India's Commerce Ministry is planning to establish a task force for the gem and jewellery industry to tackle ongoing challenges, including weak demand in key markets and supply disruptions
Government Imposes Restrictions on Gold Jewellery and Parts Imports Amid Unusual Surge
In response to a significant increase in gold jewellery and parts imports, the Commerce and Industry Ministry has imposed immediate restrictions, as indicated by a recent notification from the Directorate General of Foreign Trade (DGFT)
SEZs Rejoice: Indian Government Includes Them in Export Incentive Scheme
Commerce ministry decides to extend RoDTEP scheme benefits to SEZ units
In FY23, gold imports decreased by 24% to $35 billion
The dip in yellow metal imports has been attributed to high import duty, while the WGC predicts a healthy investment upside in 2023.
Gold imports fell by 30% to $31.8 billion during April-February 2023
Despite the substantial decrease in gold imports, the country's trade deficit, which is the disparity between imports and exports, has not been reduced.
The Cost of Smuggling Gold
India’s Finance Minister asked to review GST and cut down import taxes on gold to brace illegal gold imports
Piyush Goyal Attends GJEPC & SJMA Meet
The Commerce Minister appreciates the progress of the Surat diamond industry and suggests way forward
Nomination Open for the 48th Edition of India Gem & Jewellery Awards
This time, GJEPC’s IGJA to have 4 new Award categories
G&J sector at forefront of exports between Feb 1 and Feb 21
The country's merchandise exports rose by 26.4 per cent to USD 25.33 billion this month till February 21
India's FTA with UAE to pave way for duty-free jewellery exports to UAE: GJEPC
The FTA will fast-track India’s goal of reaching $52 billion in exports of gems and jewellery by 2022-23
GJEPC planning to make India gem and jewellery repairing hub
GJEPC aims to make India the world's gem and jewellery repairing hub, and is in discussions with the Commerce Ministry for the same
GJEPC working on recommendations regarding FTP
The recommendations regarding Foreign Trade Policy are expected to make India a repairing hub of jewellery in the world
Gold imports more than double to $ 38 bn in Apr-Dec 2021
In December 2021, gold imports rose to $ 4.8 billion from $ 4.5 billion in the year-ago period
