Jewellery maker Gitanjali Gems Ltd will pass on the benefits of the excise duty exemption on branded jewellery announced in the federal budget, its chairman said on Tuesday.
"It is the consumer who will benefit by 2 per cent. We will pass on the benefits," Mehul Choksi told Reuters over the telephone.
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On Monday, Finance Minister Pranab Mukherjee said the government will remove a 2 per cent excise duty on branded jewellery.
The firm sells its products under the Gili, Nakshatra, Asmi and D'Damas brands in India.
