Industry & Economy
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Gems & Jewellery
Jewellery exports: Value-addition policy norms restored
K.R. Srivats
New Delhi
,
July 21
THE Government has restored the policy provisions that existed on March 31, 2005 in respect of minimum value- addition norms for export of jewellery.
The latest move has come at the request of the trade which was facing difficulties in undertaking jewellery export under the value addition norms applicable from April 1, 2005, according to an official in the Directorate General of Foreign Trade. In particular, the DGFT has stipulated that a value addition of 15 per cent has to be achieved in the case of export of plain gold/platinum/silver jewellery and articles if the per gram value of the precious stones, semi-precious stones and studdings utilised in the making of jewellery/articles is more than the per gram value of gold/silver/platinum.
In all other cases of export of plain gold/platinum/silver jewellery, a value addition of 7 per cent has to be achieved.
Gem and jewellery exports of the country had jumped 29.27 per cent in dollar terms to touch $15.68 billion during fiscal 2004-05 as against $12.13 billion last year.
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