The Gem & Jewellery Export Promotion Council (GJEPC) expresses gratitude to the Directorate General of Foreign Trade (DGFT), Ministry of Commerce & Industry, for their decision to suspend the changes in maximum permissible wastage norms for gold, platinum, and silver content in jewellery exports.

In a swiftly organized virtual meeting on May 28th, GJEPC actively advocated for a balanced approach that minimizes disruption to exports while considering efficiency and the livelihoods of millions connected with the trade. GJEPC emphasized to DGFT officials that the revised norms would disproportionately affect small and medium-sized enterprises (MSMEs), which comprise 85% of all exporters.

DGFT has granted GJEPC an extension until July 31st to provide inputs on Standard Input Output Norms (SION). During this period, GJEPC will conduct an extensive study on wastage norms across different jewellery categories, including plain, studded, machine-made, and hand-made.

Expressing appreciation for DGFT's decision to postpone the revised wastage norms, Mr. Vipul Shah, Chairman of GJEPC, remarked, "The industry's growth and competitiveness rely on well-considered policies. We commend DGFT for promptly suspending the new wastage policy, recognizing its impact on small exporters. These norms have been in place for over a decade, and any significant change necessitates thorough study and consultation with industry stakeholders."

"By delaying the implementation of the revised wastage norms until July 31st and allowing detailed inputs on wastage across various jewellery categories, DGFT has prevented an immediate halt in exports through its swift action," Shah added.