Countless meetings have been held and deliberations have been made, regarding ease of doing business in the gems and jewellery industry. The GJEPC has been in talks with the Ministry of Commerce & Industry for an overhaul of policies to facilitate better exports and to ensure more customers walk into the stores to buy jewellery domestically. However, on February 1, when Finance Minister Nirmala Sitharaman made announcements one after the other, the glimmer of hope amidst stakeholders faded. Not much was announced for the betterment of this sector that employs 4.64 million and contributes 7 per cent to the country’s GDP.
With a vision of uplifting the agricultural sector and doubling farmers’ income, FM said that an agricultural credit target of Rs 15 lakh crores would be set by 2021. These farming reforms will have a positive impact on the gems and jewellery industry, as an income growth amidst farmers will in turn lead them to invest in more gold.
You can read up to 3 premium stories before you subscribe to Magzter GOLD
Log in, if you are already a subscriber
Get unlimited access to thousands of curated premium stories, newspapers and 5,000+ magazines
READ THE ENTIRE ISSUE
February - March 2020