Budget expectation from the Managing Director of Bhima Gold

Mr. Vishnusharan Bhatt, Managing Director, Bhima Gold Pvt. Ltd said,

"As we eagerly await the presentation of the interim budget, the prospect of a reduction in the import duty on precious metals would be a promising development for the Gem & Jewellery industry. As the industry relies on the import of raw materials, a decrease in import duty from the current 15% to 4%, could provide a significant impetus to the sector by enhancing accessibility to raw materials. This potential change aligns with our vision of fostering innovation, ensuring competitive pricing, and ultimately benefiting both businesses and consumers. Given that the Gem & Jewellery sector heavily relies on the craftsmanship of its artisans, prioritizing skill enhancement to meet global standards is paramount. Emphasizing skill development is crucial to ensuring that our artisans are well-versed in the latest techniques and trends. This commitment contributes not only to our sector's growth but also to enhancing our global competitiveness."