Ø   Seeks reduction in gold import duties as global oil & gold prices have fallen Ø   Urges Government to exclude jewellery from all FTAs Ø   Seeks a comprehensive gold mining policy that encourages domestic exploration Ø   Urges Government to stimulate enhanced recycling schemes for idle gold Mumbai , January 15, 2015: As part of its pre-Union Budget recommendations, All India Gems and Jewellery Trade Federation (GJF), the national nodal and the largest single trade body in India for the promotion and growth of trade in gems and jewellery across India, has urged the Union Finance Minister to bring down the duty on gold from 10% to 2% to encourage ‘Make in India’ initiative in the gems & jewellery sector. At present, the current account deficit is under control due to reduction in global gold prices (40% down) from USD 1,900 to USD 1,200 today. Fortunately, crude prices (which account for the highest bill for imports) have reduced 60% in last 6 months. Accordi

GJF urges Prime Minister to include gems & jewellery in ‘Make in India’ initiative GJF also proposes unlocking of idle gold in households & trusts to reduce CAD GJF seeks nodal Ministry for representing the domestic gems & jewellery sector December 1, 2014: All India Gems and Jewellery Federation (GJF), the national nodal and the largest single trade body in India for the promotion and growth of trade in gems and jewellery across India, has welcomed the Government’s move to abolish the 80:20 Rule for gold imports and expressed its gratitude to Prime Minister Shri Narendra Modi, Union Finance Minister Shri Arun Jaitley, Smt. Nirmala Sitharaman (Union Minister of State for Commerce & Industry) and all bureaucrats from the relevant ministries and Reserve Bank of India. The move to abolish 80:20 Rule comes close on the heels of GJF’s letter to Prime Minister Shri Modi last week and persistent efforts with key policy makers for more than 12 months. It also comes a