GJEPC urge government to formulate a “friendly” jewellery repair policy

Gems and jewellery exporter’s body GJEPC has urged the government to formulate a “friendly” jewellery repair policy in the next foreign trade policy (FTP). It believes India can emerge as a global restoration hub of old and damaged jewellery items. The FTP provides guidelines for enhancing exports to push economic growth and create jobs.

Colin Shah, the chairman of Gems and Jewellery Export Promotion Council (GJEPC), told PTI that they have suggested the commerce industry ministry that a jewellery repair policy is required as India has all the infrastructure to become a hub of the world in repair and restoration of old and damaged jewellery. “We need this policy in the next foreign trade policy (2020-25). India has skilled man power for repair of jewellery. A friendly policy would help us in excelling in the sector,” he said.

The Council has also recommended that jewellery sent for repair by foreign firms should not attract customs duty. It said the import of jewellery for repair can be suitably regulated to ensure its re-export in a period of three to six months maximum.

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Shah highlighted that India has the capacity to offer extensive repair and restoration services of jewellery and there exist huge opportunities in the repair business for Indian players, the artisans in India are well suited to handle any jewellery for repair. “The artisans can customize existing jewellery, set or re-set a customer’s stone into a new factory mounting, India can be the hub for repairing and restoring the old jewellery,” he said. “This would provide immense employment opportunities for the Indian craftsmen and would bring in much-needed foreign exchange.”

Precious metal jewellery, across the world, is sold in almost every country. With usage and over a period of time, some jewellery gets damaged and needs to be repaired or altered or even exchanged for new/fresh jewellery. In developed countries like the US and Europe, there is a lack of facilities to repair old or damaged jewellery, and also the cost of repair is exorbitantly high.