Friday, December 6, 2024

Jewelry Industry Sees New Wastage Norms Effective January 2025

In a significant move impacting India’s jewelry sector, the Directorate General of Foreign Trade (DGFT) has announced new wastage and Standard Input Output Norms (SIONs) for jewelry, set to take effect on January 1, 2025. These updated regulations, initially announced in May 2024, have undergone further adjustments following extensive industry feedback and aim to streamline raw material use while preserving traditional craftsmanship.

The initial May 2024 notice introduced a substantial reduction in permissible wastage across jewelry categories, sparking immediate discussions within the industry. Recognizing the impact of these reductions, the Gem and Jewellery Export Promotion Council (GJEPC) swiftly organized a meeting with DGFT officials, advocating for a data-driven approach that reflects real-world manufacturing workflows.

In response, the GJEPC conducted an extensive nationwide survey, gathering insights from 160 exporters and manufacturers. The findings highlighted key industry needs: realistic wastage norms aligned with manufacturing processes and a sufficient transition period to adapt to the new standards.

Following the survey results and constructive dialogue with DGFT, both industry requests have been approved. The revised norms will now honor established process loss benchmarks as outlined in the Handbook of Procedures 2023, incorporating adjustments to better align with jewelry manufacturing practices. These revised wastage norms and SIONs provide clarity on permissible raw materials for specified quantities of finished jewelry, benefiting traditional artisans and modern manufacturers alike by balancing efficiency with artistry.

The new wastage standards will replace the current guidelines starting January 1, 2025, while the existing norms remain effective through December 31, 2024, ensuring a smooth transition for jewelry producers across India.

This thoughtful adjustment reflects a collaborative effort to safeguard traditional practices and enhance precision in jewelry manufacturing, providing both stability and innovation in the industry as it enters the new year.

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Alice
Alice
Alice is a seasoned jewelry designer renowned for her exquisite creations that seamlessly blend artistry with elegance. With a passion for craftsmanship and an unwavering commitment to quality, Alice has established herself as a distinguished figure in the world of fine jewelry. Drawing inspiration from diverse cultures and artistic movements, Alice brings a unique perspective to her designs, creating pieces that transcend mere accessories to become timeless works of art. Her meticulous attention to detail and insistence on using only the finest materials ensure that each creation reflects not only her artistic vision but also a commitment to unparalleled craftsmanship. Having honed her skills through years of dedicated practice and a keen understanding of evolving trends, Alice is adept at translating her clients' desires into bespoke, one-of-a-kind pieces. Her portfolio encompasses a range of styles, from classic and timeless to avant-garde and contemporary, showcasing her versatility and ability to cater to a diverse clientele.

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