Tanya Ashreena
Surendra Mehta, secretary of The Bombay Bullion Association Ltd shared his views on expectations of the gems and jewellery sector for the Budget 2015.
On custom duty:
“In my opinion, the government will reduce the custom duty on gold. Right now, it is at 10 percent, and the government should reduce it to 4 percent.”
On removal of restrictions:
“The government is trying to free the gold trade, as they no longer require restrictions on gold. They are flush with dollars and there is declining current account deficit, so we expect the removal of gold curbs.”
On special jewellery parks:
“We expect the government to announce special jewellery parks in line with SEZs in different parts of the country.”
On jewellery promotion:
“I think the government will make a special effort to promote jewellery below 18 carats.”
