GJEPC Proposes Duty Cuts and Policy Reforms to Boost Gem and Jewellery Exports

The Gem and Jewellery Export Promotion Council (GJEPC) has submitted pre-budget recommendations to Finance Minister Nirmala Sitharaman ahead of the 2026-27 Union Budget. The council seeks duty rationalisation, GST reduction on gold and silver jewellery, SEZ reforms, customs simplification, and tax reforms to enhance cost competitiveness and position India as a global diamond trading hub. These proposals aim to address challenges like high U.S. tariffs, shifting consumer preferences, and geopolitical uncertainties while supporting export diversification and industry growth.