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New Delhi. With demand for gold and silver jewellery in India on the rise, the government has revised norms pertaining to the acceptable amount of wastage and standard input output for export of gold and silver jewellery.
An industry official said wastage norms have been relaxed and manufacturers are disappointed with this.
The Directorate General of Foreign Trade issued a public notice. The notice said that the wastage allowance and standard input-output norms have been revised in respect of export of jewellery.
An official of the Gem and Jewellery Export Council said the industry was not consulted before taking the decision.
According to the public notice, the weight of gold or silver mountings and findings (or parts), if imported and used in export products, will not be included for determining the net content of gold and silver in the export products.
What is the input-output criterion?
Standard Input-Output Norms (SION) are rules that define the amount of input/inputs required to produce a unit of output for export purposes.
The input output norms apply to products such as electronics, engineering, chemicals, fish and marine products including food products, handicrafts, plastics and leather products.
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