The Gem and Jewellery Export Promotion Council (GJEPC) on Friday said that recent GST reforms have delivered significant relief to the diamonds and jewellery sector, easing costs for both exporters and consumers.The government’s move to exempt imports of natural cut and polished diamonds up to 25 cents under the Diamond Imprest Authorisation Scheme (DIAS) from the 18% IGST will ease working capital pressures and support small-diamond processing units, the council said, PTI reported.It added that the GST reduction on jewellery boxes from 12% to 5% would lower costs for retailers and exporters while making packaging and gifting more affordable for buyers.“These measures will stimulate domestic demand and provide a cushion to our export supply chains, which are under pressure due to global challenges,” GJEPC Chairman Kirit Bhansali said.Bhansali stressed that the industry remains committed to ensuring that benefits, including reduced costs for jewellery boxes, are transparently passed on to consumers, reinforcing trust and supporting long-term growth.According to the council, these reforms, coupled with GST cuts in allied sectors such as handicrafts, leather goods and packaging, will strengthen India’s jewellery ecosystem by lowering operational costs, enhancing affordability and boosting global competitiveness.“These measures reinforce India’s position as a leading hub for diamond processing, jewellery design and exports,” the GJEPC said, adding that the sector is confident the reforms will deliver broad-based benefits, supporting both domestic growth and export resilience.
