Page 47 - Diamond Digest :: July - August 2021 Issue
P. 47

Global News & Views.....
Gold Jewellery Exports Exempted From Hallmarking
India’s Ministry of Consumer Affairs , Food & Public Distribution based on extensive consultations with key stakeholders of the trade has exempted Gold Jewellery Exports from the mandatory hallmarking that comes into effect from 16th June, 2021.
*Shri Piyush Goyal, Minister for Consumer Affairs, Food & Public Distribution announcing the Key decisions of Mandatory Hallmarking post the meeting with Expert Committee on 15th June said , “ Mandatory Hallmark certification of Gold Jewellery is good for both customers and business. Constructive suggestions are always welcome and implementation should be effective”
*Colin Shah, Chairman, GJEPC, said, “I would like to thank Shri. Piyush Goyal for accepting the recommendations put forth by GJEPC in the mandatory hallmarking scheme coming into effect from 16th June, 2021. This has come as a major relief for the jewellery manufacturers as jewellery exports are now exempted from the Hallmarking scheme. In a welcome move, Kundan, Polki and Jadau jewellery along with export and re-import of jewellery as per the Trade Policy of Government of India, Jewellery for International Exhibitions, and Jewellery for Government- approved B2B Domestic Exhibitions are also exempted from mandatory hallmarking. This is a welcome step towards ease of doing business”
*K Srinivasan, Convener, Gold Jewellery Panel, GJEPC said, The jewellery exporters are thankful to the Govt. for accepting its recommendation and exempting jewellery meant for exports out of hallmarking. As Indian hallmarked articles do not have acceptance outside India, any legal interpretation that requires an exporter to comply with the
hallmarking provisions wholly or partially, would have increased the transaction costs in the export stream, making gem and jewellery exports unviable.” Colin Shah further added, “The Government has been very considerate in keeping small business units, with turnover under Rs.40 lakh, out of mandatory hallmarking. The Government has been very proactive, and at the same time, it has considered the concerns of the domestic as well as export sectors.”
The Govt. has included all the recommendations and amendments put forth by the Gem & Jewellery Export Promotion Council :
1) As exports are exempt under Hallmarking, Copy of Export order will not be required for this exemption as that is not the current practice if some exporter is supplying year round to his/her regular buyer abroad.
2) Various export activities as per following that are permitted under Foreign Trade Policy (FTP) will be exempted from Hallmarking.
a. Export and reimport relating to Export Promotion Tours and Participation in Overseas Exhibitions as allowed under Para 4.46 FTP r/w Para 4.80 of Handbook of Procedures.
b. Re-import of rejected Jewellery under Para 4.52 FTP r/ w Para 4.91 of HBoP.
c. Consignment exports and reimport under Para 4.53 FTP r/w Para 4.93 of HBoP.
3) B2B local exhibitions, which are organised within India for promoting and facilitating trade.
4) Exquisite handcrafted jewellery of Kundan, Minakari, Polki and Jadau, Thewa jewellery should also be excluded.
BDB Vaccinates Chuttak / Daily Wage Assorters
The ‘Chuttak’ Assorters are the ‘daily wage’ community who play an important role in the Diamond trade. While Bharat Diamond Bourse has been successful in providing vaccination facility to fight COVID 19 to all its members as well as Gem and Jewellery Industry members from outside the complex, the bourse committee has gone ahead and decided to vaccinate the ‘daily wage assorters’ community or ‘Chuttaks’ as well. As Mr Anoop Mehta, President BDB puts “Bharat Diamond Bourse has always strived to support the country during adversities and calamities. During this ongoing PANDEMIC too BDB is supporting the ‘Chuttak’ community to come to the bourse premise and get vaccinated”. A special rate of Rs 100/- only is being charged for this and the balance amount is funded by World Federation of Diamond Bourse, Gem and Jewellery National Relief Fund and BDB. Mr Mehul Shah, Vice President BDB adds, “I wholeheartedly thank Yoram Dwash, President WFDB, and Sanjay Kothari, Chairman, Gem and Jewellery National Relief Fund and other donors for having
supported this drive to help the ‘Chuttak’ Assorters who are ‘daily wagers’ and important to the diamond trade and are part of the Diamond family. It has been our sincere effort to bring together as many Industry members who are directly and indirectly associated with the trade to avail of the vaccination facility organised by the Bharat Diamond Bourse”. It is also decided by the committee that 1st September 2021 onwards anybody entering Bharat Diamond Bourse will have to be at least vaccinated on the first dose, if not he/she will have to carry a Negative RT PCR report not older than 15 days, which will be made mandatory. With the New Year coming in, from 1st January 2022 only those who are fully vaccinated will be allowed to enter the bourse to carry out daily activities. Bharat Diamond Bourse has always strived for the health of every individual whether directly or indirectly connected to the trade and will become the safest place to conduct business, say Industry sources. Indeed a commendable effort from the entire Bharat Diamond Bourse committee members.
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