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Union Budget 2019: Jewellers unhappy with gold import duty hike, seek rollback

Expressing disappointment over hike in the import duty on gold, jewellers and industry body on Friday demanded the government to rollback its decision as it will encourage smuggling and make the yellow metal more expensive. Finance Minister Nirmala Sitharaman in the Budget 2019-20 proposed to increase custom duty on gold and other precious metals from 10 per cent to 12.5 per cent. ....

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Diamonds.net - India Trade Group Elects Chairman

The All India Gem and Jewellery Domestic Council (GJC) has named Ashish Pethe as its new chairman as part of a shake-up of its leadership team.The council, which represents India’s domestic jewelry industry, elected nine new board members, who in turn picked Pethe as chairman, he told Rapaport. ....

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Gold and silver set to be cheaper after budget, jewellers cheer move

Gold and silver set to be cheaper after budget, jewellers cheer move
The jewellers believe the reduction in import duty will help attract more gold buyers at a time when demand has taken a hit.
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Jewellers have been hoping to see the buyers return like they did before Covid struck. (Photo | EPS)
Express News Service
CHENNAI: The reduction in customs duty on gold and silver in the budget has brought cheer to the jewellery industry.
The jewellers have lauded the duty cut, a long-standing demand of theirs. They believe the reduction in import duty will help attract more gold buyers at a time when the demand for the yellow metal has taken a beating. At the same time, it will also encourage both manufacturing and exports of jewellery from the country, they insist. ....

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