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Gujarat diamond merchants seek benefits in upcoming Budget


February 22, 2011 - Surat

Diamond merchants of Gujarat are seeking benefits from the central government from the upcoming annual budget.

Gujarat gems and jewellery industry is recovering from recession. The merchants are hoping for reforms and benefits from the budget.

The diamond merchants want a turnover tax of one percent to be levied, as they would able to regulate their income taxes by calculating it from their profit.

"Taking this step will be profitable, for those who are from outside and want to work in this industry. They can easily calculate their turnover, tax, and set up factories in India or do some other business," said Chandrakant Sanghvi, the Chairman of Gems and Jewellery Export Council of Gujarat.

The industry has also asked for rough materials to be sent directly to India without any foreign middle party and also want government to pay special attention to the issue of technology upgradation.

They also demanded government's attention towards skill development and establishment of proper training pattern for the workers.

ANI

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