GJEPC urges state govt to solve pending issues

SURAT: A high level delegation from Indian diamond industry led by Gems and Jewellery Export Promotion Council (GJEPC) from Mumbai visited Gandhinagar on Wendesday to submit pre budget recommendations to finance minister Saurabh Patel.
The delegation led by GJEPC chairman Vipul Shah made a strong representation for taking up long pending issues of the diamond sector with Narendra Modi government at the centre.
Industry leaders recommended that union government should consider the long pending demand of presumptive taxation in the gems and jewellery sector in order to provide conducive tax environment for the diamantaires, allowing the import of rough diamonds on consignment basis, setting up finance cluster in Surat for providing loans to the small and medium enterprises etc.
Vipul Shah told TOI said, "We expect Gujarat's finance minister to take up the issues and demands with the centre."
The industry is hopeful of Modi government introducing presumptive tax on the lines of leading diamond trading centres like Dubai, China, Hong Kong, Antwerp and Israel. It would help Indian companies to compete with other trading hubs and allow the foreign diamond companies to set up offices in India.
Regional chairman of GJEPC Chandrakant Sanghavi said, "A world-class diamond bourse is being planned in Surat. However, it is mandatory for the government to allow import of rough diamonds on consignment basis."