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from 2024 to 2030. The Union Budget announced a decrease in customs duties on gold and silver from 15% to 6% and on platinum from 15.4% The GJEPC aims for India’s gems and jewelry exports to reach $75 billion by 2030, with specific targets set for gold jewelry alone to achieve $25 billion. billion in 2023.
Reduction in custom and import duties taxes on the raw materials and Capex investment push by Government in the budget 2022. Amalgamation of technology in every major sector like banking, licensing, etc. Later in FY 21-22 was able to recover from this temporary challenge and came up good once again. Growth Triggers. Tax reduction.
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