Gems, jewellery exporters seek import duty cut on gold, silver, platinum bars to 4 pc in Budget

Against the backdrop of the macroeconomic scenario, the council urged the government to take measures to revive exports in this sector. It also requested to introduce the sale of rough diamonds in SNZs (special notified zones); and "reduce the import duty on gold, silver, and platinum bars to 4 per cent; and introduce duty drawback on exports of platinum jewellery to take advantage of India UAE comprehensive economic cooperation agreement".