The Gem and Jewellery Export Promotion Council (GJEPC) met Finance Minister Nirmala Sitharaman and presented their budget request. In an interview with CNBC-TV18, Colin Shah of GJEPC shared the sector's wish list from Union Budget 2021.
"Today 12.5 percent
"Our tariff structure and duties should be in-line with international tariff structures and duties. We have requested for a reduction from 12.5 percent to 4 percent on gold, silver and platinum and from 7.5 percent to 2.5 percent for diamonds and gemstones. If that happens then we can seriously become a global leaders in manufacturing and trading in all these commodities," he explained.
The council has asked for a comprehensive e-commerce policy, which will allow manufacturers and retailers to seamlessly ship products -- at the lowest cost and faster -- anywhere in the world.
For the entire discussion, watch the video.