Speculation had been swirling within the industry that the government might raise the GST on precious metals, particularly after the recent 9% duty cut on gold, silver, and platinum. Industry experts had suggested that the GST rate could increase by 2%, moving gold and silver from the 3% to the 5% GST slab, while some even speculated a jump to 12%.

However, Goyal reassured the audience, stating, “I urge the industry to remain positive. The government is mindful of your concerns, and I want to reassure you that we are not planning any immediate hike in the GST rate.” This announcement brought relief to the jewellery sector, where many businesses had been rushing to purchase precious metals in anticipation of a potential tax increase.

The GST Council is scheduled to meet in the last week of August, but Goyal’s comments have eased concerns for now. He also emphasized that the Union Budget’s duty cuts on gold, silver, and platinum were aimed at revitalizing the gem and jewellery industry, which has been impacted by global economic conditions. “Gold and jewellery will increasingly come through official channels, and our workforce will get job orders. India’s domestic market is resilient and growing fast to compensate for the loss in exports due to global recession,” he added.

The IIJS Premiere 2024 continues to showcase a wide array of products, including diamond, gemstone, and studded jewellery, gold and gold CZ jewellery, lab-grown diamonds, high-end couture jewellery, silver jewellery and artefacts, color gemstones, and machinery, technology, and allied industries.

IIJS PREMIERE 2024 – Celebrating 4 Decades of Maximizing Business Opportunities
Event Highlights:
40th Edition of IIJS Premiere
2100+ Exhibitors showcasing their collections
3600+ Stalls across the event
Spanning a total area of 1.35 lakh sqm

Special Attractions: THE SELECT CLUB at JWCC: A dedicated section for Exclusive High-End Couture Jewellery
Prime Plus Lounge for Prime Plus Exhibitors, Visitors, and International Guests at both venues
IGJME 2024 (India Gems & Jewellery Machinery Expo) at BEC

Salient Features:
User-friendly Visitor Pre-Registration
Digital Entry Badge via the IIJS App and Facial Recognition
Comprehensive IIJS App with detailed show features
3D Interactive Floor Plan for easy navigation
Exclusive One Day for each venue with staggered show dates
A range of accommodation options from 5-star, 7-star to budget hotels near the venue
Networking Evening events
Innov8 Talks (Seminars) at both venues
Frequent Shuttle Services between venues for convenience
Ample Parking at JWCC
Product Sections:

JWCC (JIO BKC):
Diamond, Gemstone, and other Studded Jewellery
Gold and Gold CZ Studded Jewellery
Laboratories and Education (Loose Stones)
International Companies
Exclusive Sections:
Lab-Grown Diamonds (Loose & Jewellery)
Loose Natural Diamonds
The Select Club – Exclusive High-End Couture Jewellery

BEC (NESCO Goregaon):
Diamond, Gemstone, and other Studded Jewellery
Gold and Gold CZ Studded Jewellery
Laboratories & Education (Jewellery)
International Companies
Exclusive Sections:
Silver Jewellery, Artefacts & Gifting Items
Loose Colour Gemstones
Machinery, Technology & Allied Industry

Follow Gold Price Today News on Instagram: https://www.instagram.com/goldpricetodaynews/
Join our Facebook Page: https://www.facebook.com/Goldsilverpricetoday
Check Daily Gold and Silver Prices on our Website: www.goldpricetoday.co.in
Join the Facebook Group of 80,000 Jewellers – Sunar Jewellers Ekta: https://www.facebook.com/groups/goldsilverpricenews
Send Suggestions via Email: goldkabhav@gmail.com

Commenting on “Sparkling Future,” which explores India’s export potential in gems and jewellery, Shri Piyush Goyal remarked:
“Dr. Hemant Kumar Tantia has illuminated India’s future in his book ‘Sparkling Future.’ Through this book, he has explained how the gems and jewellery trade sector can rapidly grow to fulfill Prime Minister Narendra Modi’s vision of making India a developed nation, its potential contribution, and the immense possibilities for its export. He has conducted very deep research on gems and jewellery, providing insightful suggestions and writing about its history. I congratulate him. I am confident that this book will serve as an important document and guide for those working in this sector.”

Back in April 2024, Shri Piyush Goyal congratulated Dr. Tantia on his literary accomplishments in a letter:
“I extend my heartiest congratulations to you on the publication of your two books titled ‘Sparkling Future: India’s Export Potential in Gems & Jewellery’ and ‘Kaavyanjali.’ The first book thoroughly examines India’s role in the gems and jewellery sector, highlighting its excellence in the global diamond market. These efforts, along with the Government of India’s pioneering initiatives, such as promoting research in lab-grown diamonds and implementing mandatory hallmarking, will significantly contribute to our Hon’ble Prime Minister Shri Narendra Modi ji’s vision of establishing India as a global epicenter of the gems & jewellery industry.

The second book, which incorporates the thematic diversity of poems covering topics ranging from patriotism to social and religious issues, is a testament to your versatility and keen observation of the world around us. Each poem resonates with authenticity, offering profound insights into the complexities of human emotions and societal dynamics. I am confident that these well-researched literary works will inspire understanding, appreciation, and catalyse transformative change, further enriching the minds and perspectives of their readers. Once again, I congratulate you on the publication of these books and wish you continued success in all your future endeavors.”

Dr. Hemant Kumar Tantia, known for his versatility, has also gained national recognition in the fields of music and art, earning several prestigious awards for his contributions.