Government Takes Steps to Revive Jewellery Exports, Streamlines Jewellery E-commerce Policy: GJEPC

• CBIC Accepts GJEPC’s Recommendation to Simplify Jewellery Exports via Courier Mode
• Eliminated the requirement for exporters to fill out specific additional fields related to item-level identification of jewellery
• Certain Mandatory Document Attachments Removed for Courier Shipping Bill-V Filing

Mumbai, India – June 17, 2023 – The Gem & Jewellery Export Promotion Council (GJEPC) has been actively addressing the concerning decline in India’s gem and jewellery exports, which witnessed a significant drop of 36% in April and 16% in May (in dollar terms). To counter this downward trend, the GJEPC has made multiple representations to the Government of India, urging it to prioritise and support e-commerce as a means of value-added exports.

GJEPC commends the Central Board of Indirect Taxes and Customs (CBIC), Government of India, for its ongoing commitment to simplifying jewellery exports through the courier mode. In line with GJEPC’s persistent efforts to streamline the process, CBIC has issued Notification No. 43/2023-Customs (N.T.) and Circular No. 17/2023-Customs on 15th June, 2023. These measures aim to facilitate jewellery exports for exporters who do not intend to re-import the goods, as authorised by CBIC Notification No. 57/2022-Customs (N.T.) dated 30th June, 2022.

The recent notification and circular issued by CBIC on 15th June, 2023, in response to one of GJEPC’s requests, will provide much-needed relief to exporters. The new guidelines eliminate the requirement for exporters to fill out specific additional fields related to item-level identification of jewellery. Furthermore, certain document attachments that were mandatory while filing the Courier shipping bill-V have been removed.

Vipul Shah, Chairman, GJEPC expressed his appreciation for CBIC’s support, stating, “By streamlining the processes and eliminating bottlenecks, this framework holds the promise of reversing the current decline in exports. We are pleased to see the Indian Government’s acceptance of our recommendations to simplify the policy on jewellery e-commerce. The recent notification and circular issued by CBIC reflect their responsiveness to industry needs and will undoubtedly benefit exporters. The reduction in documentation requirements and simplified shipping bill details will make the export process more efficient and contribute to the growth of e- commerce exports in the gem and jewellery sector.”

GJEPC has been actively engaging with CBIC to further ease jewellery exports through e-commerce channels ever since the introduction of the simplified regulatory framework for e-commerce exports of jewellery via courier mode through CBIC Circular No. 09/2022-Customs on 30th June, 2022

The GJEPC has actively worked on organising seminars, workshops, and consultations to create awareness and provide guidance on leveraging e-commerce platforms for gem and jewellery exports. These efforts aim to equip exporters with the necessary knowledge and tools to thrive in the digital landscape, thereby facilitating increased exports and economic growth.

The GJEPC remains committed to collaborating with the Government, industry stakeholders, and exporters to explore innovative solutions, implement supportive policies, and unlock the full potential of e-commerce in the gem and jewellery sector.

Courtesy: Retail Jeweller India News