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Gem and jewellery industry urges market liberalisation
Daily FT
|August 19, 2025
SLGJA President Akram Cassim says high taxes forced goldsmiths and businesses abroad; liberalised regime could lure them back and attract global brands
SRI Lanka's gem and jewellery industry is calling on the Government to liberalise the sector, arguing that, with the right reforms, the country could leapfrog into the ranks of global trading hubs such as Hong Kong, Dubai, and Bangkok.
"Sri Lanka's position as a source country is underutilised due to restrictions on importing rough stones, gold, and other raw materials," Sri Lanka Gem and Jewellery Association (SLGJA) President Akram Cassim told the Daily FT.
High taxes have pushed many goldsmiths and businesses to relocate to countries like Madagascar, he noted, adding that a liberalised regime could lure them back and attract global brands to invest locally.
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