Indian Foreign Trade Policy 2009-2014 to boost Gold and Diamond Jewelry Exports
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30.08.09, 10:17
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World
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The Indian Foreign Trade Policy 2009-2014 is expected to boost gold and diamond jewelry export. Diamond World reports that the duty drawback policy addresses the needs of small and medium exporters and allows gold to be purchased in the open market. Commodity Online reports that the India gold jewelry industry posted a 9% growth in exports in July 2009. Gold jewelry exports in July totaled at $627 million compared to $576 million in July 2008. Meanwhile, the export of cut and polished diamonds in July 2009 totaled at some $1.2 billion, compared to $1.3 billion in 2008. In order to promote the export of diamond and gold jewelry, the value limits of personal carriage have been raised to $5 million, in case of participation in exhibitions overseas. |
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By: Shir Deutch
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