Thursday, 12th January 2006 (4029 views)

An Indian body has called on the government to chop excise duty on exports of imitation jewellery, Sify reports

The Imitation Jewellery Manufacturers' Association has urged the government to extend the same exemption rights to imitation jewellery exporters as currently enjoyed in the gold, silver and apparel markets.

The association said such a move would improve the standard of living for a vast number of Indian families.

"The sector currently attracts eight per cent of excise duties and we want the centre to eliminate it completely to boost the sector where more then one million families, mostly from economically weaker section of the society are working," said IJMA spokesperson Nagendra Mehta.

Mr Mehta explained that the move would help India to compete against neighbouring China in exports of imitation jewellery.

Indian imitation jewellers also hope to make more of a splash in China.

The Chinese imitation jewellery market is worth Rs 5,000 crore, according to Mr Mehta, but high excise duties have prevented India from gaining any more than a one per cent share of the market.

 

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