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The Directorate General of Foreign Trade (DGFT) has put on hold the new norms for permissible wastage amount for gold, silver and platinum content in jewellery exports until July 31, 2024, just a day after the notification after the gems and jewellery industry raised serious concerns on the new standards. On May 27, the DGFT has notified revised norms related to the permissible amount of wastage and standard input output with regard to the export of gold and silver jewellery. The industry claimed that the norms were notified without any consultation.  

The DGFT has said that now keeping in view the representation of the Gem and Jewellery Export Promotion Council (GJEPC) highlighting the difficulties to their sector from the revised norms, another opportunity will be given to the industry for submission of their views. It said that the industry and the council can provide information/data to the concerned norms committee within one month. Accordingly, DGFT hereby places the Public Notice dated May 27, 2024 in abeyance up to July 31, 2024 with immediate effect. 

The May 27 notice has stated that the weight of mountings and findings (or parts) of gold or silver if imported and used in export products, will not be included in determining the net content of gold and silver in export products. Under the revised norms, the permissible wastage by weight for plain gold and platinum jewellery was reduced from 2.5 per cent to 0.5 per cent. Similarly, for studded jewellery, the wastage limit was reduced from 5 per cent to 0.75 per cent. The norms for wastage for medals and coins were cut down from 0.2 per cent to 0.1 per cent. After this May 28 notice, the changes are now kept on hold.