The Emirates Times

Linkedin Twitter Facebook Tumblr

The Emirates Times

– Make It Happen
Enquire Now
Menu
  • HOME
  • INTERVIEW
  • UAE
  • GULF NEWS
    • Dubai
    • Jordan
    • Bahrain
    • Abu Dhabi
    • Saudi Arabia
    • Oman
  • BUSINESS
  • TECHNOLOGY
  • LIFESTYLE
  • EVENT
  • SUCCESS STORIES
  • METAVERSE

The Emirates Times

– Make It Happen
Menu
  • Home
  • Interview
  • UAE
  • Gulf News
    • BUSINESS
    • Dubai
    • Jordan
    • Saudi Arabia
    • Abu Dhabi
    • Bahrain
    • Oman
  • Technology
  • Lifestyle
    • Biography
    • EVENT
  • Metaverse
Home WORLD

India Might Lower its Import Tariff on Gold Bars.

January 25, 2024
in WORLD, Gulf News
0 0
0
India Might Lower its Import Tariff on Gold Bars.

Concerned that the taxes were further hurting the nation’s already struggling jewelry exports, government and industry officials stated that India’s commerce ministry had backed a long-standing demand from the jewelry industry to lower import rates on gold bars.

The federal budget is due next week, and the commerce ministry has supported cutting the tariffs ahead of schedule. If a tax decrease is approved, Finance Minister Nirmala Sitharaman may announce her interim budget on February 1.

To slash expenses for India’s jewelers, the Gems and Jewellery Export Promotion Council (GJEPC) has urged the government to lower the customs charge on cut and polished diamonds and to cut import duties on all forms of gold from 15 percent to 5 percent.

“India has some of the highest customs duties on gold in the world,” stated GJEPC chairman Vipul Shah.

He claimed that lower taxes would increase exports and decrease imports illegally.

To prevent importers from bringing in gold labeled as findings to avoid paying taxes, the government increased the import tariff on gold and silver findings earlier this week from 11% to 15%. Findings are hooks, clasps, and other fittings used in jewelry production.

 

Also Read:

India Wants to Increase the Price of Sugarcane for the Upcoming Season.

UAE: Certain Indian Schools have Declared a Three-Day Weekend.

ShareTweetSend
Next Post
UAE will receive 200 unmanned helicopters from a major defense organization.

UAE Will Receive 200 Unmanned Helicopters from a Major Defense Organization.

No Result
View All Result

Latest Posts

Raja Al Mehyou
INTERVIEW

From Heritage to Horizons: Inside Tashyid with Chairman Raja Al Mehyou

by Editor
October 3, 2025
0

  In a rapidly evolving real estate landscape, few companies manage to strike the delicate balance between tradition and innovation....

Read more
Azfar Ashary

Interview with Azfar Ashary – Bridging Business and Technology in the Arab World

October 3, 2025
Blust On

Blust On scales Dubai operations and opens Lebanon distribution hub to accelerate professional haircare access across the Gulf and the Levant

September 27, 2025
dental implants in Dubai

Where to Get Same-Day Dental Implants in Dubai: 11 Top Clinics 2025

September 26, 2025
Marc Bellamy and Williams International

The Story of Marc Bellamy and Williams International

September 24, 2025

Follow Us

The Emirates Times

– Make It Happen
The Emirates Times is an English Language Internet media with a significant focus on business, technology, news, entrepreneurship, leadership, innovation, prominent business personalities, and many more, majorly in the GCC region. Further, the company publishes interviews, news, business content, press releases, etc. This platform also publishes about real estate, sports, metaverse, business ideas, and more.
Linkedin Twitter Facebook Tumblr

Important links

  • HOME
  • INTERVIEW
  • UAE
  • GULF NEWS
  • TECHNOLOGY
  • LIFESTYLE
  • METAVERSE

Contact Us

  • sales@theemiratestimes.com
  • +91-70-6556-6556

© 2024 theemiratestimes