Gem, jewellery industry seeks abolition of import duty on raw material for lab-grown diamonds in Budget

About jewellery repair policy, Shah said that countries like UAE, Hong Kong and Turkey are major competitors of India as they have a simple policy of re-importing jewellery for repair and sending it abroad. "India undoubtedly has the potential to be the global repair capital in gems and jewellery. Large exporters shall find it easy to open their service centres here for the import and re-export of jewellery exported by them abroad on an outright basis. This will create jobs, transfer technology and increase exports from India," he added.

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