The steps taken are:
- Liberal financial assistance under Market Assess Initiative (MAI), Market Development Assistance (MDA) scheme of the Department of Commerce.
- Duty Drawback on gold (Rs 100.70/gm) and silver jewellery (Rs 2590.80/kg).
- Abolition of licensing regime for rough diamonds.
- Abolition of import duty on rough diamonds, rough corals and rough coloured gemstones.
- Import of precious metals (gold/silver/platinum) through nominated agencies.
- Increase in the value limit of personal carriage from US$2 million to US$5 million in case of participation in overseas exhibitions and increase in the limit in case of personal carriage, as samples, for export promotion tours, from US$0.1 million to US$1 million.
- Reduction in Customs duty on Rhodium from 10 percent to 2 percent.
- Withdrawal of levy of 1 percent Central Excise on both branded & unbranded jewellery with effect from March 17, 2012.
- Formation of Gem & Jewellery Sector Skill Council for skill development in the sector.
In addition, the Department of Commerce has provided a token budget of Rs 1 crore for the following projects of Gem & Jewellery Export Promotion Council (GJEPC) during FY 2013-14:
- Convention Centre in Mumbai.
- Gem & Jewellery Park in Mumbai.
- Setting up of Common Facility Centers in Gujarat.
- Setting up of Gem Bourse in Jaipur.
- Technology Upgradation Fund for Gem & Jewellery Sector.
GJEPC has welcomed the decision and steps taken by the Government of India in this regard.