Divya Delhi: The Gem and Jewellery Export Promotion Council (GJEPC) announced Friday that the GST amendments have greatly benefited the diamond and jewelry industry. The government's Diamond Imprest Authorisation Scheme (DIAS) exemption of natural cut and polished diamond imports up to 25 cents from IGST (previously 18%) will minimize working capital requirements and help small diamond processors and exporters. The GST reduction on jewellery boxes from 12% to 5% will lower retailer and exporter costs. The change will lower consumer packing and gifting costs, benefiting trade and customers. GJEPC Chairman Kirit Bhanushali stated, “These measures will stimulate domestic demand and provide a cushion to our export supply chains, which are under pressure due to global challenges.” He also stated the sector will transparently pass on reliefs like jewellery box price reductions to Indian consumers to establish trust and encourage long-term growth. These initiatives, together with GST reductions in handicrafts, leather, and packaging, will boost India's diamond and jewelry industry. India will strengthen its diamond processing, jewelry designing, and exporting with lower costs, greater accessibility, and greater global competitiveness.