News: India to ease precious metals import norms
(PTI 07/04/2006) New Delhi - India today said it would make imports of precious metals and stones easier in order to promote gems and jewellery exports.
Announcing the Annual Supplement 2006 to the Foreign Trade Policy, Commerce and Industry Minister Kamal Nath said Mumbai has to match Dubai and Tel Aviv in gems and jewellery trade.
There are a number of unutilised gems and jewellery manufacturing units, which need to be revived, he said, adding that imports of precious metals and stones would be made easier.
He said tax benefits would be extended only to inputs and not for finished jewellery products.
Announcing the Annual Supplement 2006 to the Foreign Trade Policy, Commerce and Industry Minister Kamal Nath said Mumbai has to match Dubai and Tel Aviv in gems and jewellery trade.
There are a number of unutilised gems and jewellery manufacturing units, which need to be revived, he said, adding that imports of precious metals and stones would be made easier.
He said tax benefits would be extended only to inputs and not for finished jewellery products.
posted by InCar Group Press Room at 10:41
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