On behalf of the gems jewellery sector, we have asked the government for ecommerce facility – the world is going digital. India needs a good ecommerce policy. In the USA if a single parcel is valued at USD 800, the duty of 6 per cent is waived off and parcels get fast track delivery. 

If India too adopts this policy, Indian industries would surely benefit. Especially when we get orders through big ecommerce portals like Amazon, Alibaba, etc. we ought to have a fast track duty-free policy. Better ecommerce policy can give major boost to Indian economy.
 
About a year ago, Baba Kalyani committee was established to re-examine SEZ policy and converting SEZs into economic employment enclaves. The SEZ policy had a taxation benefit. 

Now, we feel that SEZs should be converted into manufacturing zones. For us the market is either USA or India. If Indian manufacturers get better access to both places, our economy will show rapid development. Therefore, we have asked for better ecommerce and SEZ policy. 

This year the exports in the period of 10 weeks till date have been around 850 USD, if you compare it to last year’s exports during the same period; it is nearly 40 to 50 per cent less. The comparison is not right, because of the global lockdown and several logistical difficulties. As compared to last year’s numbers, there will surely be a significant drop in numbers. 

Demand in domestic market is 30-40 per cent for gold. By Diwali, also as per the rupee value – gold prices will rise. In terms of demand, by October the recovery will begin. Over the last decade, investment per annum in gold, across the globe has risen significantly. All of these are favourable signs for the gems and jewellery to show a rapid progress.