• Chhattisgarh Sarafa Association President Kamal Soni urges hallmarking silver to ensure quality and boost consumer confidence.
• Calls for reduction in import duties and GST to revitalise the jewellery trade.

Raipur @The Apna Chhattisgarh। Kamal Soni, President of the Chhattisgarh Sarafa Association, has put forth significant recommendations for the upcoming Union Budget 2025, aiming to address critical issues faced by the jewellery industry. Soni has emphasised the urgent need to extend hallmarking regulations to silver jewellery, similar to the mandatory hallmarking already in place for gold. “Hallmarking silver will ensure standardisation, boost consumer trust, and elevate the industry’s overall credibility,” he asserted.

The association has also sought the reduction of import duties on gold and silver from the current 6% to 4%, which Soni believes will help curtail smuggling and stabilise market prices. Additionally, he highlighted the burden of high GST rates on jewellery manufacturing, urging the government to lower it from 5% to 3%, making it more affordable for artisans and consumers alike.

Soni further stressed the need to abolish transaction fees on debit and credit card payments for jewellery purchases. He argued that these charges discourage digital transactions, adding unnecessary costs for both traders and buyers. “Encouraging digital payments by eliminating card transaction fees will not only ease business but also promote transparency in the sector,” Soni said.

Reiterating the importance of a uniform tax structure, Soni advocated for a ‘one nation, one rate’ policy to simplify the tax framework across states. “Such measures will not only benefit traders but also stimulate the growth of the jewellery sector,” he added.

The Chhattisgarh Sarafa Association remains hopeful that its suggestions will find a place in the upcoming Union Budget, providing much-needed relief and reform to the jewellery trade.