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Govt allows gold exports from SEZs after value addition

Govt allows gold exports from SEZs after value addition
Concerned over decline in gold exports from SEZs following ban on its trading, the government has allowed units in these zones to export gold items after a minimum value addition of 3 per cent.

'Commerce Ministry in a notification on 26 April has put a stop to gold trading in SEZs with effect from 1 May. We have now made it mandatory that even in SEZ, gold units shall comply with the...minimum value addition of 3 per cent in gold jewellery and 5 per cent in gold and precious stone studded jewellery,' Commerce Secretary S R Rao said.

Earlier, this provision was there for gold units outside the zones. Rao said the step would help in boosting jewellery exports from India.  Gold exports from SEZs in May declined by about $0.8 billion.
'Anybody who is exporting gold jewellery has to abide by this value addition norms. Prior to 1 May, this norm was not applicable for SEZ exporters. So this has now been made applicable. Now its is mandated,' he said.
Agencies

Agencies

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