The government recently widened the ambit of the SEZ Rules, 2006, to include jewellery in Free Trade Warehousing Zones (FTWZ), according to a release by the industry body, the Gem and Jewellery Export Promotion Council (GJEPC). The move is expected to create more opportunities for the jewellery sector and elevate India’s stature as a reliable global trading hub.
Under a circular dated March 3, 2016, FTWZ units were authorised to undertake the storage and vaulting of precious commodities, such as gold, silver, platinum, gems, and precious stones. “The latest clarification now explicitly includes jewellery within this framework, effectively completing the value chain within the SEZ-linked FTWZ ecosystem,” GJEPC said.
