Gem & Jewellery Export Promotion Council, the apex body of the industry in India has been representing G & J Sector Policy concerns and issues to the Govt. with an objective to give impetus to exports from the country. In a recently held Board of Trade meeting on 12th September, GJEPC Chairman Shri Pramod Agrawal had urged several key policy recommendations to the Government.
In a major relief to the gem and Jewellery industry, Hon’ble Finance Minister Smt. Nirmala Sitharaman, today announced measures to boost exports from the country.
Pramod Kumar Agrawal, Chairman, GJEPC said, “With great pleasure I would like to thank and acknowledge the positive announcements made by the Hon’ble Finance Minister today. I am glad that the Govt. has understood the concerns of the Gem & Jewellery Sector and have come up with various measures to boost exports and facilitate trade.
G & J Sector was constantly suffering from credit crunch and blockage of capital. Expansion of scope of ECIS by ECGC to banks lending to exports, is an encouraging step towards resolving the finance woes of the sector. Gem & Jewellery is one of the special 4 sectors chosen for organizing MEGA SHOPPING FESTIVALS in 4 cities prior to March 2020, highlighting Gem & Jewellery sector, Handicrafts /Yoga/Tourism, Textiles and Leather. This would not just provide impetus to Sales to Foreign Tourist, but also propel exports for the sector.
Reimbursement of Taxes and Duties for Export Promotion is an encouraging step towards ease of doing business and the step towards expediting export shipments will enhance sectoral exports
Earlier too Govt. has come up with circulars resolving key issues of IGST payment and Replenishment scheme for gems and jewellery sector. I am sure that today’s announcement will provide further relief to the g&j export industry. We are really thankful to Hon’ble Finance Minister Smt. Nirmala Sitharaman for the measures taken to boost exports from the sector.”
Piyush Goyal, Hon’ble Minister of Commerce & Industry, has been very proactive and supportive to the industry. He is much concerned about the sector and has been taking several measures to facilitate ease of doing business. His leadership and guided direction has aided G & J sector across several policy assistances in recent times”, Mr. Agrawal Added.
The various new measures announced to boost exports from the country included:
GJEPC Chairman also welcomed the other schemes announced by the Govt.:
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