Diamantaires weigh shifting manufacturing units abroad as high import duties hit hard

Colin Shah, vice-chairman of Gem & Jewellery Export Promotion Council, told, “The high import duty of 7.5% on both cut and polished diamonds and gemstones has become a major challenge to exporters. Import duty on both items has been hiked from 2.5% to 5% and then to 7.5% in a short span of eight months. This is compelling Indian exporters to look at other places to set up manufacturing base.”

from Fashion / Cosmetics / Jewellery-Cons. Products-Industry-Economic Times https://ift.tt/34h1NGS