Editor’s Note
Ahead of the 2026-27 Union Budget, India’s gem and jewellery industry is advocating for key fiscal changes, including duty rationalization and GST reductions, to bolster export competitiveness.
Sector Submits Pre-Budget Recommendations
India’s gems and jewellery sector has demanded the rationalization of duties, procedural reforms, and a reduction in the Goods and Services Tax (GST) in the upcoming Union Budget for 2026-27. The Gem & Jewellery Export Promotion Council (GJEPC) has submitted its pre-budget suggestions to Finance Minister Nirmala Sitharaman, recommending measures to make Indian exports more cost-competitive.
Proposals to Establish India as a Global Hub
The council has also put forward several proposals aimed at establishing India as a global diamond trading and value discovery center.