In a memorandum submitted to the Centre, the Association revealed that local jewellery manufacturers, who annually purchase around 100 tonnes of gold, were previously charged a 15% Customs Duty along with GST on these loans. 

With the recent budget reducing the Customs Duty to 6%, manufacturers have incurred a financial loss of Rs.5.53 lakhs per kilogram of gold due to the discrepancy between the old and new duty rates. The Association has called for the government to refund the excess duty paid under the previous rates.

Additionally, the Association has requested a 3% refund on interest paid on loans by MSME jewellery manufacturers, the establishment of a help desk in Coimbatore to boost jewellery exports, and an extension of gold metal loans to 360 days. These measures are aimed at alleviating financial pressures and supporting the local jewellery sector in the wake of the duty changes.