On behalf of the industry, the Gem & Jewellery Export Promotion Council (GJEPC) extends its heartfelt appreciation to the Directorate General of Foreign Trade (DGFT), Ministry of Commerce & Industry for their recent decision to put in abeyance the changes in maximum permissible wastage norms for gold, platinum, and silver content in jewellery exports.<\/p>\n
In a virtual meeting called at a short notice on 28th May, GJEPC played an active role in advocating for a balanced approach that enables minimal disruption to exports and considers both efficiency and the livelihoods of millions associated with the trade. In the meeting, GJEPC informed DGFT officials that the revised norms would have a disproportionate impact on the small and medium-sized enterprises (MSMEs), which represent 85% of all exporters.<\/p>\n
DGFT has given GJEPC time until 31st July to provide inputs on Standard Input Output Norms (SION). In this time period, GJEPC will conduct a detailed study on wastage norms on different categories of jewellery including plain, studded, machine-made and hand-made.<\/p>\n
Thanking DGFT for putting on hold the revised wastage norms, Mr. Vipul Shah, Chairman, GJEPC, said: \u201cThe industry\u2019s growth and competitiveness depend on thoughtful policies. We appreciate the DGFT\u2019s prompt action to put the new wastage policy in abeyance\u00a0 considering its\u00a0 impact on small exporters. The\u00a0 norms have been prevailing for over a decade, and any significant change requires thorough study and consultation with industry stakeholders.\u201d<\/p>\n
\u201cBy putting the revised wastage norms on hold till 31st July to provide detailed inputs on wastage in various jewellery categories, DGFT through its immediate action, has avoided an immediate standstill of exports.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
On behalf of the industry, the Gem & Jewellery Export Promotion Council (GJEPC) extends its heartfelt appreciation to the Directorate General of Foreign Trade (DGFT), Ministry of Commerce & Industry for their recent decision to put in abeyance the changes in maximum permissible wastage norms for gold, platinum, and silver content in jewellery exports. In…<\/p>\n","protected":false},"author":1,"featured_media":26227,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83,100,90],"tags":[],"thb-sponsors":[],"class_list":["post-26226","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin","category-in-focus","category-policy"],"acf":[],"yoast_head":"\n