Working cycle for jewellery exports cut by a fourth

Tightening the noose on jewellery exporters, the government on Wednesday reduced the  working cycle for export of precious ornaments by a fourth for speedy execution of foreign orders.

The Union Ministry of Finance in a notification said the period of execution of jewellery export orders should replace 90 days from the existing 120 days. This means, star trading houses need to execute export orders within 90 days from the date of their gold import. While it is not mandatory to stretch shipping of jewellery up to 90 days if ornaments are ready for exports, Indian jewellers can export even within seven