Industry

Gem and jewellery exports dip 2% in Dec.

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Industry seeks budgetary sops

With the December 2019 gem and jewellery export and import numbers showing a decline, the industry has asked the government to intervene and has sought budgetary sops.

As per available data, the overall gross exports of gems and jewellery declined 1.89% to $2,435.93 million during December 2019 as compared to $2,482.96 million in December 2018.

The overall gross exports of the commodity declined by 5.30% to $27.69 billion during April to December 2019 as compared to $29.23 billion during the same period last year. The overall gross import of gems and jewellery in April to December 2019 showed a decline of 6.52% to $18.68 billion from $19.98 billion registered during April to December 2018. The overall gross import of rough diamonds in April to December 2019 showed a decline of 15.86% to $10.16 billion from $12.07 billion registered during April to December 2018.

“We hope the government is watching the tumble in our export numbers and would [heed] our long standing requests on duty reduction on gold, platinum and diamonds. Ease of doing business on customs issues, resolution of GST input credit challenge and introduction of a new progressive SEZ policy are some of our suggestions,” Colin Shah, vice chairman, Gem & Jewellery Export Promotion Council, said.

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Printable version | Jan 28, 2020 12:42:50 PM | https://www.thehindu.com/business/Industry/gem-and-jewellery-exports-dip-2-in-dec/article30537046.ece

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