Budget 2022 quote- Shobha Shringar,a leading jewellery brand, Snehal Choksey, CEO, Shobha Shringar
Mumbai, 01st February 2022 (GNI): “With a futuristic vision, the financial budget has focused on digitisation and investments with its various plans and policies, which is a great move. With the reduction of customs on cut and polished diamonds and gemstones to 5%, there is a positive change coming up for the industry. With this move, there is an incredible opportunity to organise the gems and jewellery sector. The reduction in customs will ensure that the tax evasion and other malpractices significantly reduce, which will largely strength the domestic market. This will also enhance the employment opportunities and increase the tax collection. Moreover, we are looking forward to the regulatory framework in the coming year, which will enhance the exports of gems and jewellery significantly and improve the forex earnings of the nation. We are hopeful as these measures will increase the demand and enhance the affordability of jewellery for the coming year. We are looking forward to seeing the positive impact these policies bring to the overall growth and development of jewellery industry in the year 2022-23,” stated in the press release.ends
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