Mumbai: The Gem and Jewellery Council (GJC) has expressed support for the Government’s decision to increase the effective import duty on gold to 15 per cent from 6 per cent, describing the move as a temporary and calibrated measure taken in the larger national interest.
Rajesh Rokde, Chairman of GJC, said the gems and jewellery industry stood firmly with the nation and respected the Government’s policy decisions in the current economic scenario. He noted that the industry had consistently demonstrated resilience and adaptability during challenging periods.
Rokde also urged the trade to remain calm and confident, adding that GJC would continue working closely with the Government and stakeholders to maintain stability, consumer confidence and sustained growth in the sector.
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Avinash Gupta, Vice Chairman of GJC, said gold and jewellery were deeply linked to India’s economy, traditions and savings culture. He appealed to the trade fraternity to avoid panic and continue business with confidence and responsibility.
Gupta further stated that GJC remained committed to constructive engagement with policymakers to protect the interests of artisans, traders and consumers, while ensuring the long-term growth and stability of the jewellery industry.
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