GJC Advocates for Policy Changes in Gold and Jewellery Industry

The All India Gem and Jewellery Domestic Council (GJC) is consulting with stakeholders to address customs duty revisions for gold and silver. GJC aims to submit industry insights to the prime minister, advocating for reduced GST, removal of capital gains tax, and a revitalised Gold Monetisation Scheme to stimulate the sector's economic role.

The All India Gem and Jewellery Domestic Council (GJC) is actively engaging with zonal committee members, trade associations, and jewellers nationwide to discuss changes in customs duties for gold and silver. Their goal is to provide comprehensive insights to prime ministerial authorities in a bid to inform policy modifications.

During recent discussions, GJC chairman Rajesh Rokde emphasized the importance of supporting the government's economic measures while advocating for reduced GST and the elimination of capital gains tax on jewellery sales. Such changes aim to encourage recycling and mobilize gold within the economic system.

The Council, representing over six lakh jewellers, stands unified with national priorities and has proposed a detailed roadmap to enhance the Gold Monetisation Scheme. This initiative seeks to reduce import reliance and foster self-reliance, aligning with India's economic goals and promoting Atmanirbhar Bharat.