Despite the overall positive performance in gold jewellery exports, the total export of Studded Gold Jewellery experienced a slight decline of 0.62 per cent, reaching USD 376.06 million.
Manufacturers of lab-grown diamonds (LGD) – which are 80% cheaper than natural diamond – also claimed that export volumes have increased with the US being the largest importer. They attributed the fall in export value to price instability after several new players entered the market.
GJEPC: The Central Board of Indirect Taxes and Customs (CBIC), on June 15, issued a notification and circular for further simplification of the exports of jewellery through courier mode for such exporters who do not wish to re-import. The new guidelines eliminate the requirement for exporters to fill out specific additional fields related to item-level identification of jewellery, the statement said.
Chavda supported the resolution while stating that it is a matter of pride that India has got presidency of G20. He also added that it will propel the development of tourism in the state.