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IJMA urges Govt to cut duty for jewellery sector

13
Jan '06
Imitation Jewellery Manufacturers' Association (IJMA) has asked the government to free the sector from any excise duty.

Association spokesperson Nagendra Mehta said that the sector currently attracts eight per cent of excise duties and we want the Centre to eliminate it completely to boost the sector where more then one million families, mostly from economically weaker section of the society are working.

He said this while announcing the launch of international imitation jewellery arcade in the city.

"This would relieve the workers from additional burden. The industry has a great potential to compete with China in terms of exports. But the duties are proving to be a big obstacle," he said.

He said Chinese imitation jewellery exports were worth Rs 5,000 crore and India commanded just one per cent of the share. "Moreover China is also entering our markets with low cost jewellery," he added.

According to him the revenue generating sectors like gold and silver, even the apparel industry have been exempted from the purview of excise duty. "The sector is unorganised and not generating that many revenues, still we have to pay excise duties," he added.

Expressing hope that some decision in this regard would be taken in the forthcoming Budget session of Parliament, the Association has also called upon the government to extend export benefits as provided to other export oriented industries.

The Economics Times


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