Union Budget 2026–27 makes strong push for MSMEs, signals stability and cautious optimism
Union Budget 2026-27 makes a strong push for MSMEs, with a Rs 10,000-crore SME Growth Fund; besides, it enables faster payments via mandatory TReDS for CPSE purchases. Overall, the Budget emphasizes fiscal prudence, infrastructure creation, and ease of doing business. For a sector navigating global uncertainty, shifting consumer preferences, and rising compliance standards, it is stability that the enabler.
India's Gold Market Sees Surge in Demand After Import Duty Cut
India’s gold market is witnessing a significant boost in demand following a major reduction in import duties
Indian Government Raises Customs Duty on Gold-Alloy Imports to Close Loophole
The Indian Government has increased the customs duty on imports of gold alloys under the Comprehensive Economic Partnership Agreement (CEPA) with the UAE, aiming to close a loophole exploited by bullion dealers that led to significant market distortions and revenue loss
Budget 2024-25 a recipe for growth, industry leaders say
Finance Minister Nirmala Sitharaman’s Budget has been hailed by the gems and jewellery industry, with stakeholders calling the duty cuts a long-awaited step in the right direction
GJEPC Chairman presents pre-budget recommendations during a consultation meeting with the Hon'ble Finance Minister
GJEPC Chairman Shri Vipul Shah presented key recommendations for the gem & jewellery trade at today's pre-budget meeting with Union Finance Minister Smt. Nirmala Sitharaman
GJEPC welcomes Vote-on-Account Budget which sows the seeds to achieve Viksit Bharat in Amrit Kal
Interim Union Budget 2024-25 Reaction by Vipul Shah, Chairman, GJEPC
Union Budget 2024: Gem and jewellery industry concerns not addressed
The Budget has not addressed any of the concerns of the gem and jewellery industry, leaving the industry disappointed
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.
India's gold imports for January have hit a 32-month low, plummeting 76% from the previous year's numbers
The country imported 14.6 tonnes of gold in January 2023, down from 61.5 tonnes in January 2022. The lower demand for gold has affected not only India's import figures but also global gold prices, which fell on the news of India's reduced imports.
Price to Rise for Gold and Silver Jewellery
Prices will soar as customs duty on precious metals, articles of gold, silver and platinum and costume jewellery have been increased in the Union Budget.
A citizen-friendly budget not quite jeweller friendly
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
UAE awaits 15% import duty reduction on gold with bated breath
UAE gold trade and Indian shoppers will keenly follow any change on Budget day.
Founder of Malabar Gold & Diamonds, MP Ahammed demands a reduction in import duty to curb gold smuggling
A reduced import duty will make gold smuggling less attractive and will eventually drive the illegal gold out of the markets.
GJEPC Seeks Jewellery Repair Policy To Make India A Global Outsourcing Service Centre & Hub
Seeks 4% import duty on gold, silver & platinum; allowing sale of rough diamonds in SNZs and Zero duty on Lab Grown Diamond seeds
2023’s First IIJS Signature 2023 & IGJME Inaugurated
Chief guests at the inauguration included State Minister of Commerce & Industry, Anupriya Patel; Member of Parliament Poonam Mahajan and Chairman of Malabar Gold & Diamonds, MP Ahammed
