Press Information Bureau

Government of India

Ministry of Commerce & Industry

14-May-2012 16:41 IST

The Government of India, at regular intervals, through Foreign Trade Policy and Union Budget, has announced various measures to develop gold and silver jewellery industry in the country. Some of the important measures include:

(i) Introduction of duty drawback rates @ Rs 30.90/gm and Rs 1,545/kg for gold and silver jewellery exports respectively.

(ii) Formation of Gem & Jewellery Skill Council of India (GJSCI) to enhance and upgrade various skills in gems and jewellery sector.

(iii) Increase in the value limit of personal carriage from US$ 2 million to US$ 5 million in case of participation in overseas exhibitions.

(iv) Increase in the number of days from 30 to 90 for re-import of unsold items in case of participation in an exhibition in USA.

(v) Personal carriage of gold in primary form permitted upto 10 kgs in a financial year by an authorized person of Gem & Jewellery Units in EOU units subject to RBI and Customs guidelines.

These measures would promote development of the gold and silver jewellery related industry in Andhra Pradesh also.

This information was given by Shri Jyotiradiya M. Scindia, Minister of State for Commerce & Industry in written reply to a question in Lok Sabha today.

DS/GK

Export facilitation for gold and silver jewellery expands duty drawback and eases carriage and re import rules to support trade. The Government announced export facilitation and sector-development measures for the gold and silver jewellery industry, including duty drawback rates for jewellery exports, increased personal carriage allowances and extended re import periods for exhibition participants, permission for authorised persons of EOU jewellery units to carry gold in primary form subject to regulatory guidelines, and establishment of a skill council to upgrade sector skills.