Latest news with #GarmentExportersAssociationofRajasthan
Time of India
5 days ago
- Business
- Time of India
FTA boost for Raj's gems, jewellery, textile exports
Jaipur: Rajasthan's gems and jewellery industry exports are expected to get a big boost after the signing of the Free Trade Agreement (FTA) between India and the United Kingdom. Under this agreement, all tariffs on precious and inexpensive jewellery have been abolished. Rajasthan is a major exporter of gems and jewellery to the UK, with the industry estimating the volume to be around 5%. Currently, the industry faces customs duty of 2% to 4% on export of precious metal jewellery, while this duty is 4% on jewellery made of cheaper metals, said former chairman of Gem and Jewellery Exports Promotion Council (GJEPC) Rajiv Jain. After the FTA comes into force, these duties will become zero. The items on which duty has been abolished through this agreement include pearls, precious and semi-precious stones, precious metals, and artificial jewellery. Textile industry in Rajasthan will also benefit from zero duty access to the UK market, as earlier there was import duty of up to 12%. Zakir Hussain, former president of Garment Exporters Association of Rajasthan (GEAR), said, "The new tariff regime will increase export possibilities of Rs 3,000-5,000 crore. Rajasthan will be able to compete better with India's neighbouring countries like Bangladesh, Vietnam, Indonesia, and others in the apparel and home textiles sector."
Time of India
23-07-2025
- Business
- Time of India
Raj FM urged to oppose plan to hike GST on garments
Jaipur: After a group of ministers in the 55th meeting of the GST Council proposed to increase GST from 12% to 18% on readymade garments costing more than Rs 1,000, the state industry appealed to the state finance minister, Diya Kumari, to raise the issue and oppose the move. The Garment Exporters Association of Rajasthan (GEAR) said clothing is a necessity item and should not attract such steep taxes. GEAR president Rakshit Poddar said, "If GST goes up to 18%, it will have a bigger impact on the middle-class consumers, who usually buy garment pieces in the range of Rs 1,000 to Rs 2,500." He said inflation made raw material costlier, raising the cost of commonly used items. Echoing similar sentiment, the general secretary of the garment body, Amit Maheshwari, said many women are engaged in making ethnic clothes whose costs are relatively higher. "If the taxes go up, the women engaged in the ethnic wear segment will face difficulties. It will impact 5 lakh artisans in the state," said Maheshwari. GEAR suggested that 5% GST can be levied on garments costing up to Rs 25,000 and 18% on garments that are priced more than Rs 25,000.
