Reduced import duty on Gold will benefit consumer

By T S Kalyanaraman

“We are hoping for a reduction in the import duty on gold from 10% to 4-5%. This would help buoy up positive business sentiments, and a cut in the duty structure will ultimately benefit the consumer. A step in this direction will also promote the import of gold through legalized channels resulting in increased revenue for the government.

We look forward to organized jewellery retail chains playing a more pro-active role in the Gold Monetization Scheme which would help the government in reaching its targets of mobilizing gold from consumers across the country.

Jewellery purchase through EMIs is another option that we would like the government to look into.”

The author is Chairman & Managing Director at Kalyan Jewellers