The Gem & Jewellery Export Promotion Council put forward the recommendations of the gems and jewellery industry at the interactive session with stakeholders to enhance global competitiveness held on October 28, 2019 under the chairmanship of Hon'ble Union Minister of Commerce & Industry and Railways, Shri Piyush Goyal, at The Ashok Hotel.

Speaking on behalf of the g&j exporters, Sabyasachi Ray, Executive Director thanked the Government of India for proactively looking into industry's concerns and resolving the same to provide much needed respite.

Thereafter, he raised some of the critical issues facing the industry, drawing specific attention to the following:

• Formulation and implementation of Gold Policy as announced by the past Hon'ble Finance Minister in the Union Budget last year
• Amendments in taxation norms further enabling sale of rough diamonds in Special Notified Zone in Mumbai
• Need for deliberations related to a Gold Mining Policy similar to what has been done in China
• Amendments to the e-commerce policy enabling sale of small jewellery packets of a maximum value of US$ 300

Hon'ble CIM appreciated all the four key points raised by GJEPC and informed the Council that he has already discussed the issue of reduction in import duty on cut and polished diamonds with the Hon’ble Finance Minister.