Duty cut on jewellery to boost demand

THE PROPOSED CUSTOMS duty cut on jewellery and platinum parts, announced in the FY26 Budget, is likely to give a fillip to consumption, say jewellery firms.

- VIVEAT SUSAN PINTO

The move is expected to make platinum jewellery cheaper, since the duty cut is sharp from 25% to 5% on platinum parts (called findings), executives said. Customs duty on jewellery, on the other hand, has been slashed from 25% to 20%. The Budget has also introduced a new tariff line to differentiate gold imports in bars from those in other forms.