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Wednesday
June 2019
1:20 PM IST
News Headlines
Mobile phones, tobacco products seized in raid at Kannur Central Jail        Govt will not support idea of bifurcating Malappuram district : Minister        Jaishankar files nomination papers for Rajya Sabha poll        Only one family was spoken about and got all attention, says Modi        New British PM to be announced on July 23 By Aditi Khanna        Iran says ''idiotic'' new US sanctions shut doors of diplomacy        Australia outclass England by 64 runs on way to semifinals        Windies legend Lara hospitalised due to chest pain, could be discharged soon        Shakib's magnificent 5-wicket haul steers Bangladesh to 62 run win against Afghanistan        Argentina, Uruguay, Peru through to Copa America quarter-finals        US-Iran fears buoy oil prices as focus turns to Trump-Xi talks        Rupee opened flat at 69.58 vs USD in early trade        UK falling behind in race to engage with India, warns UK Parliament inquiry        Australian Islamic State orphans rescued from Syria camp        Death toll from building collapse in Cambodia rises to 24        BJP fields Jaishankar for Gujarat RS seat after he formally joins party        There is culture of disrespecting expertise under the BJP: Cong        BSP to contest all future polls on its own: Mayawati        RBI Deputy Governor Viral Acharya quits 6 months before his term ends        BJD MLA arrested for forcing engineer to do sit-ups        
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Business News
Govt sets up common facility centres for gems and jewellery sector
 
(New Delhi, Jan13, 2019): With a view to strengthen the gems and jewellery industry, the Government has taken a number of steps, including establishment of Special Notified Zone (SNZ) and setting up of common facility centres for gems and jewellery sector. The measures include creation of separate ITC HS Code for lab grown diamond, reduction of GST rates for cut and polished diamonds and precious stones, exempting IGST on import of gold by specified agencies and banks, official sources said.

Exemption from GST on supply of gold by nominated agencies to exporters and providing financial assistance for participation of international fairs, for organising buyer seller meets, creation of export related infrastructure under various schemes of Department of Commerce are some of the steps taken by the government for the industry.

Issues raised by the industry are resolved from time to time to improve ease of doing business. The gem and jewellery sector contributes significantly to the economy of the country in terms of exports as well as employment generation. In the year 2017-18, the gem and jewellery exports was 13.69 per cent of total merchandise exports from the country. As per estimates, the sector provides employment to around 5 million people.

During the financial year 2018-19 (up to November, 2018), the gem and jewellery exports are USD 27.05 Billion as compared to USD 28.02 Billion during the corresponding period in previous year, showing decline of 3.46 per cent. Gem and jewellery exports were USD 41.54 billion in 2017-18 compared to USD 43.41 Billion, showing decline of 4.3 per cent.


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KERALA NEWS
Mobile phones, tobacco products seized in raid at Kannur Central Jail
 Kannur: For the second time in a week, a raid was conducted on Kannur Central Jail on Monday night a  
Govt will not support idea of bifurcating Malappuram district : Minister
Kerala CPM leader's son booked for rape, cheating
Two workers killed in Kerala as earth caves in
INTERNATIONAL NEWS
New British PM to be announced on July 23 By Aditi Khanna
 London: Britain''s new Prime Minister, either Boris Johnson or Jeremy Hunt, will be announced on Jul
Iran says ''idiotic'' new US sanctions shut doors of diplomacy
UK falling behind in race to engage with India, warns UK Parliament inquiry
Australian Islamic State orphans rescued from Syria camp
NATIONAL NEWS
Jaishankar files nomination papers for Rajya Sabha poll
 Gandhinagar: External Affairs Minister S Jaishankar Tuesday filed his nomination papers for the Rajy
BJP fields Jaishankar for Gujarat RS seat after he formally joins party
There is culture of disrespecting expertise under the BJP: Cong
BSP to contest all future polls on its own: Mayawati
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