after reduction in duty on gold sisters will not face problem in buying mangalsutra piyush goyal

Mumbai . Union Commerce and Industry Minister Piyush Goyal said that after the huge reduction in gold import duty, women will not have any problem in buying Mangalsutra. Addressing a program of jewelery company Malabar Gold and Diamonds here, Goyal said that after gold becoming cheaper, women can now buy heavier mangalsutras. He said, “I am told that there has been a boom in business (after the cut in import duty). There has been a lot of growth in business. Now, in my opinion our sisters will not have any problem in (buying) their mangalsutra and you can also buy heavy mangalsutra.

Finance Minister Nirmala Sitharaman had announced a huge reduction in customs duty on gold import. In this way the duty has been reduced from 15 percent to six percent. Goyal said that the issue of reducing the duty was prevalent in every discussion in the gold industry and there was a demand to reduce the duty.

He called upon the Gold and Jewelery Export Promotion Council (GJEPC) to help promote Indian tourist destinations through jewelers’ shops abroad, saying this would help the country and the entire region. Speaking at an event to announce scholarships for 21,000 girl students, Goyal asked GJEPC to prepare a sector-wide plan in which companies come together on specific issues like girls’ education to help make India a developed country.

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