Government Fine-Tunes Jewellery Export Wastage Norms

The government revised jewellery export wastage norms for gold, silver, and platinum, addressing industry concerns. The norms, adjusted from May's stringent rules, will take effect in January 2024, allowing different permissible wastage for handmade and machine-made items. These changes are welcomed by the industry.

In response to industry feedback, the government has announced revisions to the permissible wastage norms for gold, silver, and platinum jewellery exports. This move, effective January 1, 2024, comes after the Commerce Ministry took into account significant concerns from jewellery manufacturers.

Initially, the jewellery industry objected to the norms outlined in May, which reduced wastage allowances significantly. The norms had a planned implementation date in December 2024, but thanks to the industry's input, they have been re-evaluated and adjusted to better suit the production realities.

The Directorate General of Foreign Trade specified that the new wastage norms cater differently to handmade and machine-made jewellery. The industry has lauded these changes, which balance realistic production processes with regulatory standards, thus supporting smoother transitions in the export market.

(With inputs from agencies.)