Budget 2021 aspirations from the Jewellery Industry – Rajiv Popley Director, Popley Group speaks with Manisha Gupta, Commodities Editor CNBC TV18
Rajiv Popley, Director at Popley group, expects a reduction in the import duty for the jewellery sector in the Union Budget 2021.
“Apart from this, we are looking at goods and services tax (GST) refunds for overseas buyers. This will avoid the parallel economy which comes in for tourists who travel to India for shopping and return to their country. Once the refunds start coming in, purchases in India will be again over the table,” he said.
He believes 8 per cent import duty including GST is a fair number for jewellery sector.
“We are starting to look at growth this year and hopefully as the pandemic is clearing up and vaccine is coming in, we feel life is getting back to normal. We believe jewellery buying will be at its peak again,” Popley said.