The Centre has relaxed the regulations related to exports of certain items, such as push backs and locks that are used in the jewellery-making industry.
The Directorate General of Foreign Trade (DGFT) said that certain norms of the foreign trade policy has been amended to “allow export of findings like posts, push backs, locks which help in collating the jewellery pieces together, containing gold of three carats, and above, up to a maximum limit of 22 carats only from domestic tariff area and EOU/EHTP/STP/BTP units”.
Earlier, exports of any kind of gold jewellery or related items containing gold of 8-22 carats were permitted. But these exports are not allowed from special economic zones.
The country’s gems and jewellery exports contracted by 0.75 per cent to $13.18 billion in April-August this fiscal.