Every cloud has a silver lining
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Friday,June 04 2021 [ Issue 1 June/ 2021 ]
Every cloud has a silver lining
Diamond jewellery from India is sure to make its way into the advanced nations of the world and bring home some significant revenues for Indian diamantaires.

Announcing the conclusion of the one-year Section 301 investigations of Digital Service Taxes (DSTs) adopted by India, Austria, Italy, Spain, and Turkey, United States Trade Representative (USTR) has suspended tariffs on goods from these countries for up to 180 days to provide additional time to complete the ongoing multilateral negotiations on international taxation at the OECD and in the G20 process.

This suspension is an indication that the USTR is willing to wait till a multilateral solution is found for Digital Service Taxes (DST). The imposition of the proposed 25% import duty on 17 Indian jewellery items would have immensely impacted this labour intensive sector with loss of jobs and livelihoods and a shift of business to countries such as China and Mexico. American jewellery companies also bank on Indian companies to fund their business by giving long credit and memo facilities, which would have major repercussions.

World over Indian designs are in great demand and now, jewellery business owners from India get some breathing space without having to worry about immediate payment of Digital Service Taxes.

 
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Highlights
Aysen Nikolaev, Head of the Republic of Sakha (Yakutia), and Sergey Ivanov, ALROSA’s CEO, have signed a cooperation agreement on the sidelines of the StPetersburg International Economic Forum, on a project to construct
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GIA India launches its first remote learning programme focused on jewellery designing. Business owners, working professionals and jewellery enthusiasts can now earn a professional GIA credential from the convenience of any lo
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David Kellie, CEO ofNatural Diamond Council (NDC) said that NDC's thoughts go to everybody in the industry in India, their families and their communities. "I’d like to thank the WFDB and BDB for leading an industry wide
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The Gem & Jewellery Export Promotion Council (GJEPC), the apex body of gem & jewellery trade in India, has forged a unique partnership with global E commerce giant eBay to offer to its Members anExclusive Jewellery St
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ANI has learnt that multiple agencies are in touch with the government of Dominica on the issue which has been told that Choksi is originally an Indian citizen and had taken on new citizenship to escape the law in India after
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