GJEPC has requested the Government to defer new wastage norms for gold, silver and platinum jewellery because of which the Directorate General Of Foreign Trade (DGFT) has said in a public notice that the same has been put in place till August 31.
The public notice dated May 27 is kept in "“abeyance till August 31, 2024 for reassessment of permissible wastages and SIONs as per request of GJEPC,” the DGFT said.
According to news reports, in the month of May, the DGFT had issued a public notice tightening wastage norms, following which the exporting community flagged its concerns.It had amended the percentage of wastage by weight in export of plain jewellery to 0.5 per cent for gold and platinum from 2.5 per cent earlier and in studded jewellery to 0.75 per cent from 5 per cent before.
For the interim period, wastage norms as existed prior to the issuance of the May 27 notice stand restored, according to the reports.
As per the reports, wastage in gold ranges from 5% to 7%, however, implementation of modern methods and technology is increasingly helping in curbing wastage, but the loss is not completely eliminated.
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