Gem and Jewellery Sector Seeks Duty Cuts and GST Relief Ahead of Budget 2026-27

Ahead of the Union Budget 2026-27, India's gem and jewellery sector, led by the Gem and Jewellery Export Promotion Council (GJEPC), has requested duty rationalisation, GST reductions, and procedural reforms to enhance export competitiveness. Proposals include lowering GST on gold and silver jewellery, streamlining customs, and revising the 4% Safe Harbour tax. The sector aims to strengthen Special Economic Zone operations and position India as a global diamond trading hub amid evolving global trade challenges and tariffs.