Government Raises Duty Drawback Rates to Support Jewelery Exporters – CNBC TV18

The Central Government has revised the duty drawback rates on gold, silver, and platinum jewelery in order to cushion expenses against the impact of steep tarifs bearing August 27.

As per a department of revneue notification, the duty drawback on silver jewelry has been increased from ₹ 335.50 to ₹ 466.76 per 10 grams, whose rate for Gold and Platinum Geetinum Jewelry Has Beeenum From ₹ 4,468.10 to ₹ 5,234 per 10 grams.

The revision has come on the back of expenses facing a 50% tariff on shipments to the usa, which is India’s second-largest market for gems and jewelery. The sector Exported $ 9.94 Billion Worth of Goods to the Us in FY25, Nearly One-Third of India’s Total Gems and Jewelry Exports of $ 29.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.8.
“While this is a welcome step, further support will be needed in the coming month to Sustain Export Momentum,” Vipul Shah, Former Chairman of the Gem and Jewelery Export Promotion Council, WAS Quoted As Saying Mint.

Industry representatives have welcomed the move, saying it provides some reliable, but stressed that sustained support will be Necessary to MaintenatainS Competitiveness Against Rivals Rivals like TurKey and Thailand, Which Enjoy Lower Tariff Barriers.