One of the biggest demands of the gems and jewellery sector was for the government to bring down the customs duty on gold to 10 per cent to eliminate smuggling – but the demand went unheard yet again

Indian official imports have continued to grow despite high import duty, averaging 760t since the first duty hike in 2012

Industry players feel the move is ill-advised and ill-timed, as they are already grappling with challenges caused by the pandemic and HUID issues. If the proposal goes through, it will add a huge burden to the industry, finds out Suneeta Kaul

Malabar Group chairman MP Ahammed said the government should create an enabling environment for the jewellery retail trade to introduce MRP pricing in the segment without any pricing break-up in terms of GST or other taxes

With demand growing 9 per cent during the January-June period, jewellers were expecting consumption to increase after a subdued couple of years

Key growth segments include fine dining, electronics, luxury travel, personal care, jewellery and luxury cars

The assemblage is an assortment of elusive pendant sets, earrings, rings, and kadas.

Bachhraj Bamalwa, one of the founding members of this apex body and a well-respected personality in the gems and jewellery industry takes over the reins of the GJF...