Gemstone import duty redued to zero percent

The government has finally acted and decided the import duty of coloured gemstones, to be reduced to zero percent, as informed by Rajiv Jain, Regional Convener, GJEPC. The gemstone trade community seems excited at receiving this attention, especially after it was found a miss in the Budget 2008. India’s gemstone industry witnessed an increase in exports from USD 246.4 million in 2006-2007 to USD 276.42 million in 2007-08.