Government raises duty drawback rates for gold and silver jewellery exporters. The Finance Ministry has increased refund rates to support the gems and jewellery sector facing higher input costs and weak demand. Gold jewellery exporters will now receive ₹773.17 per gram compared to ₹639.59 previously, while silver jewellery exporters get ₹14,990.66 per kilogram versus ₹9,089.33 before. Duty drawback reimburses exporters for customs and excise duties on imported materials used in manufacturing export goods, a World Trade Organization-vetted scheme. The revision aims to help Indian exporters maintain competitiveness internationally and improve refund inflows. This comes as gold and silver prices experience significant volatility, with gold rising ₹1,014 and silver jumping ₹2,887 in recent trading.
