Union Budget: Amid soaring gold and silver prices, Jaipur jewellers seek reduction in import duties

Описание: As gold and silver prices continue to surge to record highs, jewellers in Jaipur have urged the government to reduce import duties in the upcoming Union Budget to ease pressure on the bullion trade. While some traders believe the rally in precious metals will continue due to global uncertainty and see dips as buying opportunities, others warn that skyrocketing prices are hurting demand and pushing businesses into distress. Several jewellers say they are selling stock at losses, with shrinking margins threatening the livelihood of millions of artisans linked to the jewellery sector. They argue that high prices have made gold and silver unaffordable for many buyers, sharply impacting retail demand. Industry representatives believe lowering import duties would increase supply, help stabilise prices and protect employment across small and cottage-level jewellery businesses.

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