Editor’s Note
Recent GST reforms have provided substantial relief to India’s diamond and jewellery sector, lowering costs for exporters and consumers alike, according to industry body GJEPC.
The Gem and Jewellery Export Promotion Council (GJEPC) on Friday said that recent GST reforms have delivered significant relief to the diamonds and jewellery sector, easing costs for both exporters and consumers.
The government’s move to exempt imports of natural cut and polished diamonds up to 25 cents under the Diamond Imprest Authorisation Scheme (DIAS) from the 18% IGST will ease working capital pressures and support small-diamond processing units, the council said.
It added that the GST reduction on jewellery boxes from 12% to 5% would lower costs for retailers and exporters while making packaging and gifting more affordable for buyers.
Bhansali stressed that the industry remains committed to ensuring that benefits, including reduced costs for jewellery boxes, are transparently passed on to consumers, reinforcing trust and supporting long-term growth.
The council added that the sector is confident the reforms will deliver broad-based benefits, supporting both domestic growth and export resilience.
According to the council, these reforms, coupled with GST cuts in allied sectors such as handicrafts, leather goods and packaging, will strengthen India’s jewellery ecosystem by lowering operational costs, enhancing affordability and boosting global competitiveness.