Gems And Jewellery Export Promotion Council
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Nirav Modi scam fallout: Gems and jewellery industry asks bankers not to reduce credit limits in a white paper
•Gems and jewellery industry is presenting a white paper on 11 May on challenges of financing to the diamond industry
RBI's Letters of Undertaking ban not to impact Bengal jewellery industry
•RBI ban on Letter of Undertaking (LoU) as a trade finance instrument, will not have much impact on the gems and jewellery industry in West Bengal, but a hike in bank's credit margin may hurt the business, a GJEPC official said
India's gold imports to be over 700 tonnes in current fiscal, up 40%, says industry body
•GJEPC chairman demanded that the import duty on gold be brought down to 4-5 percent in the Budget, asserting that the prevailing 10 percent import duty on the yellow metal gives rise to smuggling
Govt bans export of gold items above 22-carat purity
•The decision came at a time when Indian gold jewellery traders have raised concerns over a surge in gold imports from South Korea