The gems and jewellery industry has welcomed the government’s move to reduce the basic customs duty on platinum findings and slashing jewellery duty in the Union Budget 2025-26.

Gem and Jewellery Export Promotion Council (GJEPC) chairman Vipul Shah said the council supports new tariff items for precious metals with 99.9% or more silver, gold, and platinum weights.

Leading automotive industry associations have also welcomed the Union Budget, describing it as progressive and growth-oriented, with the potential to boost vehicle sales through increased consumer spending and manufacturing support.

The Automotive Component Manufacturers Association (ACMA) and Federation of Automobile Dealers Associations (FADA) both emphasized the benefits of the budget’s focus on middle-class tax relief, rural prosperity, and manufacturing sector support for the automotive sector.

ACMA President Shradha Suri Marwah praised the Union Budget’s growth-centric approach, emphasizing manufacturing and clean mobility. She also noted the proposal for personal income tax to boost consumption.

FADA President C S Vigneshwar expressed optimism about the Budget’s auto retail sales impact, highlighting middle-class spending, rural prosperity, and MSME empowerment, and predicting increased income tax exemption limit.