The Indian government has announced revised wastage norms for the export of gold, silver, and platinum jewellery, set to take effect on January 1, 2025

The Indian government has proposed revised guidelines for permissible wastage limits in the export of gold, silver, and platinum jewellery

The Kashmir Chamber of Commerce & Industry (KCCI) has taken a significant step toward boosting the Valley's gem and jewellery exports. In collaboration with industry bodies, KCCI organized an outreach program in Srinagar to educate local merchants on entering the global market, marking a pivotal moment for the region's jewellery sector

At IGNITE Maharashtra, chaired by Collector Thane, the GJEPC highlighted growth opportunities for the gem and jewellery sector. Mithilesh Pandey, GJEPC's Director of Membership, focused on the industry's potential, with special emphasis on the India Jewellery Park in Mahape, Navi Mumbai

Titan Slips, Senco Gold Hits All-Time High, Kalyan Jewellers Jumps as Government Restricts Gold Jewellery Imports

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)

In a move that brings relief to the gem and jewellery industry, the Directorate General of Foreign Trade (DGFT) has decided to postpone the implementation of revised wastage norms for exports. This decision follows advocacy efforts by the Gem & Jewellery Export Promotion Council (GJEPC), highlighting the potential adverse impact on small and medium-sized enterprises (MSMEs)

The recommendations regarding Foreign Trade Policy are expected to make India a repairing hub of jewellery in the world

The GJEPC conducted a webinar on 21st July to explain to its members the process of updating the Importer-Exporter Code (IEC) on the Directorate General of Foreign Trade (DGFT) portal
 

• * eBay will enable jewellers to have access to international buyers through eBay Marketplace
• * GJEPC to launch an eCommerce Promotion and Facilitation Desk (“EPFD”) at all its 6 Regional Offices

Since these ornaments are not carried based on pre-orders from foreign customers, some of them are sold in the exhibition itself, while the remaining are brought back to India. On such imports, jewellers need to pay another three per cent towards IGST

Earlier, exports of any kind of gold jewellery or related items containing gold of 8 carats, and above, up to a maximum limit of 22 carats were permitted. 

The two nations implemented a free trade agreement in January 2010. Under the pact, basic customs duty on gold was eliminated.

The importers will now have to obtain a license from the Directorate General of Foreign Trade (DGFT) for importing gold and silver from South Korea.