Sri Lanka, Oct. 18 -- Sri Lanka's ambition to become a global gem and jewellery hub is being severely hampered by the restrictive policies and bureaucratic red tape, which prevent the industry from meeting the soaring international demand.

According to Ceylon Gem and Jewellery Traders Association (CGJTA) Chairman Rizwan Nayeem, critical barriers, including an inefficient flow of goods and high import taxes on raw materials such as gold, are shackling the nation's true export potential.

Despite a rich heritage and world-renowned brand recognition for treasures like the Ceylon Sapphire, the industry finds itself in a difficult position.

"We are kind of stuck right now," Nayeem stated bluntly.

He explained that even after successful glo...