Indian gem and jewellery exporters look for SPOS

The exporters of the Indian gem and jewellery industry are approaching the Indian government with requests for SOPS, to tackle the market slowdown in a more prudent manner, as per industry reports. The requests include easy finance and relaxation in gold related policies. FICCI's Gems and Jewellery Committee has extended its support to the exporters by proposing suggestions on various measures to the Commerce Ministry, to ease the anxiety of the sector’s exporters.

Some of the measures requested in the proposal were - increased limit for loan against gold, a raise in the pre-shipment finance period from 90 days to 180 days and reduction in Statutory Liquidity Ratio (SLR) requirements to make bullion loans attractive to banks.