The reduction in import duty will also help in the fight against black money, he added.
The 10 per cent duty on gold was levied to curb current account deficit (CAD), however, the country's trade deficit narrowed more than expected to $12.96 billion in June, he said.
Further, Khandelwal said, there are some issues under the current GST regime, which is hampering the industry that the government needs to look into. He said, under GST inter-state supply of services by job workers (karigars) who are unregistered, that is, having turnover below 20 lakhs in a financial year should be allowed.
The industry body also asked the government to increase the cash purchase limit to at least Rs 1,00,000, which is kept at Rs 10,000.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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