Budget 2026: Ahead of the Union Budget 2026, scheduled to be presented on 1 February 2026 by Finance Minister Nirmala Sitharaman, Platinum Guild International (PGI) has called for targeted policy support to unlock the export potential of platinum jewellery from India. In its representation to the Honourable Finance Minister, the global industry body has sought the extension of export duty drawback benefits to platinum jewellery, citing rising international demand and the need to create a level playing field for domestic exporters amid expanding global opportunities.
PGI works closely with retailers, manufacturers, designers, and stakeholders to promote platinum through consumer education, design innovation, and market development initiatives. And as one of the biggest jewellery markets in the world, PGI is especially interested in the Budget 2026 of India.
Vaishali Banerjee, Head of Global Market Development and Managing Director – India & Middle East, Platinum Guild International, said, “As we look ahead to this year’s Union Budget, we respectfully request the Honourable Finance Minister to extend export duty drawback benefits to platinum jewellery, in recognition of the strong export growth potential this category represents.
Global demand for platinum jewellery—particularly from the UAE, the wider GCC, South East Asia and the UK — is rising steadily. Indian manufacturers possess the design capability, craftsmanship and scale to serve this demand competitively. While platinum jewellery exports have grown significantly over the past years, this has been largely driven by SEZ-based players that benefit from duty exemptions, leaving Domestic Tariff Area (DTA) exporters at a disadvantage.
Including platinum jewellery under the duty drawback framework would level the playing field, enable wider industry participation, unlock global demand, stimulate fresh manufacturing investment, support skilled employment, and strengthen India’s position as a global hub for platinum jewellery manufacturing.”
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