India Gem And Jewellery Exports Up by More Than 8 %

Finance and Trade

India’s gem and jewellery exports have seen an increase of 8.26 percent in the current financial year, thanks in part to the Comprehensive Economic Partnership Agreement (CEPA). The Indian government has taken several steps to support the gem and jewellery industry, including the implementation of a simplified regulatory framework for exports through e-commerce, reduced duties for the import of diamonds and a new gold monetization policy.

The CEPA was operationalized in May 2022 and has helped boost exports in the crucial last quarter of the fiscal year, which ends on 31st March. According to Vipul Shah, Chairman of the GJEPC in India, the target for the year is $45.7 billion.

Minister of State for Commerce and Industry, Anupriya Patel, reaffirmed the government’s commitment to promoting exports at the event, stating that his ministry has taken “several steps such as the implementation of the simplified regulatory framework for gems and jewellery exports through e-commerce, reduction of duties for imports of diamonds, a new gold monetization policy and hallmarking norms.”

Source: GJEPC