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market | IST

Union Budget 2021: GJEPC's wish list

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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.

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.