The rates of duty drawback revised in India

Mar 28, 2024

2 3Recently Pankaj Parekh, Regional Chairman – Eastern Region, Gem & Jewellery Export Promotion Council, said about, ‘Replacing the Duty Drawback Scheme with Remission of Rates and Taxes!’ He said, exporting gold jewellery made out of duty-paid gold and claiming duty drawback is not commercially viable, as the drawback duty rates are always lower than the rate paid while importing.

The rates of duty drawback are revised and fixed for a period of six months, which does not work well for a commodity like gold whose price is usually quite volatile. In addition, nominated agencies do not supply duty-free gold to small exporters who want to service overseas orders, which prevents newer players from entering this space.

Over a period of time, the GJEPC has seen a drop in the number of companies exporting gold jewellery under the Micro, Small and Medium Enterprises (MSME) category, which has impacted exports from Domestic Tariff Areas (DTAs). The loss suffered on account of an insufficient duty drawback is also very high. The present duty drawback does not recognise this peculiarity.

Marketing-related measures it is a well-accepted fact within the Indian industry that to secure a greater share of jewellery exports the need for sustained and vigorous marketing of Indian jewellery is paramount. Though the GJEPC is mandated to promote Indian jewellery overseas, its activities are centred on holding B2B exhibitions in India or overseas markets and inviting or sending trade delegations.

There is also a need to target consumers in overseas markets with better publicity through those avenues that are available today. Unfortunately, this is an extremely expensive proposition and the GJEPC alone cannot garner sufficient resources for B2C publicity. It is therefore recommended that the government should consider supporting the industry to facilitate B2C events.

You May Also Like

Facebook Feeds

Cover for Heera Zhaveraat
96,294
Heera Zhaveraat

Heera Zhaveraat

Offical Facebook account of heerazhaveraat.com, homepage for Trade News, Articles and Promotion of D

This message is only visible to admins.
Problem displaying Facebook posts.
Click to show error
Error: No posts available for this Facebook ID

Twitter Feeds

A legend, immortalised in platinum ✨

The MS Dhoni Signature Edition by Men of Platinum is a tribute to resilience, strength & legacy — crafted to last a lifetime.

Explore: http://www.menofplatinum.com

#MSDhoniSignatureEdition #MenOfPlatinum #PlatinumJewellery

Privileged to welcome Mr. Kirit Bhansali, Chairman GJEPC, as Guest of Honour at Golden Girls Award Mumbai 2026 ✨📍 The Westin, Powai
🗓 27 Feb 2026 | 6 PMCelebrating excellence in India’s gem & jewellery industry.#GGA2026 #GoldenGirlsAwardMumbai #IndianJewellery #WomenInBusiness

Honoured to welcome Ms. Amruta Fadnavis Banker, Singer & Social Activist as Chief Guest at Golden Girls Award Mumbai 2026 .
📍The Westin, Powai
🗓 27 Feb 2026 | 6 PM
Celebrating women leaders shaping the jewellery industry.
#GGA2026 #GoldenGirlsAwardMumbai #WomenLeaders

Proud to unveil the PAN India Winners of Golden Girls Award 2026 ✨, celebrating excellence, leadership & innovation of women shaping the jewellery industry.📍 The Westin, Powai, Mumbai
🗓 27 Feb 2026 | 6 PM#GoldenGirlsAward2026 #HZInternational #WomenInJewellery #HeeraZhaveraat

Load More

HZ is the Official Supporter of :

Member Of

Founder Member Of