Core Viewpoint - The Sri Lankan gemstone and jewelry industry faces deep-rooted policy and regulatory weaknesses, necessitating a comprehensive national framework to unlock export growth potential and attract investment [1] Group 1: Industry Challenges - The lack of long-term national policies has led to uncertainty and fragmented regulations, undermining Sri Lanka's competitiveness in the industry [1] - Operational restrictions, such as the ban on using scanning devices during gemstone mining and the decreasing availability of land for mining, are seen as obstacles to productivity and expansion [1] Group 2: Recommendations - Stakeholders urge authorities to move beyond temporary measures and adopt clear, export-oriented strategies [1] - Suggested reforms include relaxing existing regulations to promote exports, reviewing and restructuring the National Gem and Jewelry Authority, and introducing income tax safe harbor rules [1] - There are calls for VAT reforms specific to the industry, enhanced regulation of foreign entities operating informally, and stronger incentives to attract foreign investment [1]