Jewelry body asks for cut in gold import duty to 5%
The All India Gems and Jewellery Trade Federation on Saturday asked PM Narendra Modi to reduce gold import duty from 10% to 5% to prevent shift of business to neighbouring countries. High import duty is affecting the sector's top-line and the economy as a whole, an official said. Further, it demanded jewellery parks, jewellery university, and a separate gold policy.