Ashok Mi­nawala

Solitaire - - COVER STORY -

Direc­tor, Dan­ab­hai Jewellers and past Chair­man of the GJF

The new gov­ern­ment must be con­sid­er­ate to­wards the gem and jew­ellery in­dus­try and should ap­proach the in­dus­try in such a man­ner as to add value to the coun­try’s im­age, econ­omy and cred­i­bil­ity. The first step for the gov­ern­ment should be the re­duc­tion in im­port duty rates and the 80:20 rule to stop il­le­gal gold from en­ter­ing into the coun­try and af­fect­ing the econ­omy. As an al­ter­na­tive to main­tain the CAD lev­els, the All In­dia Gems & Jew­ellery Trade Fed­er­a­tion (GJF) had of­fered the pre­vi­ous gov­ern­ment a plan to re­cy­cle gold that is cur­rently held by the public, tem­ples and in­sti­tu­tions. We had de­vised a scheme to rope in 10,000 to 15,000 jewellers who would help col­lect idle gold from their cus­tomers. I hope that the new gov­ern­ment takes our sug­ges­tions into con­sid­er­a­tion. The gem and jew­ellery in­dus­try needs to be brought back among the top 10 most de­serv­ing in­dus­tries that pos­i­tively con­trib­ute to the coun­try’s econ­omy.

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