GJEPC representatives recently made a presentation on issues related to the G&J trade between India and ASEAN countries before a Department Related Parliamentary Standing Committee on Commerce, putting forward recommendations on tariffs and other related matters. After giving an overview of the growth of the Indian industry and its contribution to the country’s export basket as well as a snapshot of India’s trade in the sector with Singapore, Malaysia, Indonesia and Vietnam, the GJEPC representatives put forward the industry viewpoint. They stressed that India was supplying cut and polished diamonds to jewellery manufacturers in the region and hence during Indo-ASEAN CECA negotiations, granting of tariff concession should only be on Cut and Polished Diamonds (ITC HS Code – 710229, 710239) which will benefit the country in the long run. Further, they pointed out that the proposed Value Addition under CECA should be reduced from 35% to 10% of the FOB value of the export of diamonds from India as these diamonds are used as a raw material in the manufacture of studded jewellery. GJEPC said that strict compliance of achieving the prescribed Value Addition should be ensured at the ports while any import is taking place. The Council also emphasised that any tariff rebate on imports of plain and studded precious metal jewellery could be hazardous for the entire Indian jewellery segment as it could lead to flooding of precious metal plain jewellery from Indonesia and Malaysia. It recommended that the CVD on jewellery imports should not be brought down. The Council was represented at the meeting by Dr. Jitarani Udgata and Sudhir Patil.

GJEPC Makes Presentation on Indo-ASEAN G&J Sector to Parliamentary Committe

GJEPC representatives recently made a presentation on issues related to the G&J trade between India and ASEAN countries before a Department Related Parliamentary Standing Committee on Commerce, putting forward recommendations on tariffs and other...
Gold

Gold imports fall by 35.45% in April vis a vis March in Ahmedabad

AOJ E-NEWS: Gold imports in Ahmedabad declined in April. According to data from the Ahmedabad Air Cargo Complex, gold imports in April fell by 35.45% from March. Last month, 7.39 metric tonnes of yellow...
Stelllar Diamond PLC

Stellar & Octea Sign Tribute Mining Agreement For Tongo-Tonguma Diamond Project

Stellar Diamonds plc, recently signed “ a legally binding conditional Tribute Mining Agreement and Revenue Share Agreement” with Octea Mining Limited with reference to the Tongo-Tonguma kimberlite diamond project in eastern Sierra Leone. As a...
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Butani Earrings

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Britt’s Pick: Anabel Higgins’ Grace Horseshoe Pendant

A very wearable, everyday pendant—and a good luck charm to boot—Anabel Higgins‘ Grace pendant appeals to the vintage hound in everyone. It’s sapphire and diamond paste that gleams from this piece, a less expensive...
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Historic ‘Stotesbury Emerald’ Sells at Sotheby’s

New York--The 34.40-carat “Stotesbury Emerald,” which has passed through the hands of three well-known American jewelry collectors in its history, sold for $996,500 Tuesday. The final hammer price for the stone, which appeared in the...
Ear rings

Check Out the Latest ‘Game of Thrones’ Jewelry

MEY Designs—a collaboration between Game of Thrones costume designer Michele Clapton and London-based jewelry brand Yunus & Eliza—has a couple of new eggs in its design basket. Literally. The brand’s new Dragonstone collection, fine jewelry...
Doyle-PinkSaphire Broach

Sotheby’s, Doyle Auction Fine Jewelry on eBay

Dust off your auction paddles. Two well-known auction houses in New York are taking their wares to eBay’s Live Auction platform this week, allowing the site’s 167 million users to bid alongside those who...

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