【Mumbai, Indi】Budget Removes Key Hurdles for Gems and Jewellery: Industry

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Editor’s Note

This article highlights the gems and jewellery industry’s positive reception of the Union Budget, citing its growth-oriented measures and the removal of key operational hurdles.

उत्तराखंड के सीएम पुष्कर सिंह धामी | एएनआई
Industry Welcomes Budget

Mumbai, February 1 (PTI) The gems and jewellery sector welcomed the Union Budget on Sunday, describing it as positive and growth-oriented, and said it removes key hurdles while providing fresh momentum to the industry.

“We thank the government for a positive, growth-oriented budget that removes key hurdles and provides fresh momentum to India’s gems and jewellery sector. It improves cash flow, supports manufacturing, and strengthens exports across the value chain,” said GJEPC Chairman Kirit Bhansali.

The GJEPC welcomed the customs duty reforms in the Union Budget.

“Trust-based processes, digital assessment, and simplified approval procedures will reduce delays and costs. We also appreciate the limited sale from SEZs to the domestic tariff area at concessional duty. This will enable factories to utilize idle capacity, protect jobs, and strengthen business amid US tariffs and global demand uncertainties,” Bhansali said.
उत्तराखंड के सीएम पुष्कर सिंह धामी | एएनआई

He said removing the Rs 10 lakh limit on courier exports is a major boost for e-commerce.

Stable and Sensitive Approach

All India Gems and Jewellery Domestic Council (GJC) Chairman Rajesh Rokde said the Union Budget 2026-27 reflects a stable and sensitive approach towards the gems and jewellery industry.

“No increase in customs duty or GST, continued policy certainty, strong MSME and cluster support, ease of doing business measures, and litigation-reducing income tax reforms together instill business confidence,” he said.
SEZ Reforms Welcomed
उत्तराखंड के सीएम पुष्कर सिंह धामी | एएनआई

Kama Jewellery’s Founder and Managing Director Colin Shah said the SEZ reforms – primarily the introduction of a special one-time facility for SEZ units to supply to DTA at concessional duty rates – is a welcome step.

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⏰ Published on: February 01, 2026