New Delhi: The Central Government has given great relief to the jewelry exporters. Jewelry exporters will now be able to import gold duty-free instead of exports. After the introduction of GST, exporters had stopped getting the benefit of this facility. This move of the government will help a lot in the growth of jam and jewelry exporters. Information to this effect has been given by the Director General of Foreign Trade.
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Jam & jewelry Exporters had been recommending to restore it for a long time. The Jam and Jewelry Export Promotion Council has welcomed the government's move, saying it will provide relief to exporters. It is worth noting that till now, the facility of duty free import of gold and silver was not available in exchange of jewelry sold in the exhibition abroad.
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Because of this, exporters did not sell their jewelry there. While industry experts believe that such exhibitions in foreign markets have a lot of potential for selling jewelry. Now, instead of such sales, gold and silver can be imported duty-free, this will help to increase the export of jam and jewelry. Its benefits will also be seen in the performance of companies in this sector. Ajay Sahai, director-general of Federation of Exporters' Organizations, has welcomed the government's move.
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