National News
DGFT Summit Explores E-commerce’s Role in Boosting Gem & Jewellery Export Potential
The Directorate General of Foreign Trade (DGFT) hosted an E-commerce Export Summit at Bharat Mandapam, Pragati Maidan, on 11th March, gathering industry leaders to explore the growing potential of e-commerce in enhancing retail exports. Mr. Sabyasachi Ray, Executive Director of GJEPC, delivered a keynote presentation on ‘Enhancing Retail Exports through E-commerce.’
In his opening remarks, Mr. Ray emphasized the critical role of e-commerce platforms in driving growth for the gem and jewellery sector. He noted that e-commerce is particularly well-suited to this industry due to the low volume and high value of its products, making it ideal for cross-border trade. He expressed confidence that businesses in the sector will see substantial growth in the near future, driven by the accessibility and scalability of e-commerce.
Mr. Ray also provided insights into recent foreign trade policy reforms introduced by the Government of India. These regulatory changes have significantly eased e-commerce exports, contributing to the sector’s remarkable growth. Currently, India’s gem and jewellery exports total $38 billion, with projections aiming for $100 billion by 2047, largely fueled by the expanding e-commerce landscape.
He advised exporters to focus on identifying key product markets and understanding consumer preferences to secure repeat business. Additionally, he highlighted the recent partnerships formed by the GJEPC with major e-commerce platforms like eBay, Amazon, and DHL, aiming to provide a seamless export experience for its members.
National News
MCX Gold, Silver Futures For August Delivery Rise On Renewed Geopolitical Tensions
For Precious Metals Investors, The Immediate Focus Remains On Developments In The Middle East, Where Any Escalation Capable Of Driving Oil Prices Higher Could Reinforce Gold’s Appeal As A Hedge Against Inflation and Geopolitical Uncertainty.
Gold prices climbed sharply on Tuesday as investors sought the safety of precious metals amid renewed geopolitical tensions in the Middle East, with concerns that higher energy prices could rekindle inflationary pressures. On the Multi Commodity Exchange of India (MCX), gold futures for August delivery rose 0.57% to Rs 1,42,150 per 10 grams in early trade. Silver outperformed, with the September contract gaining 1.04% to Rs 2,20,668 per kilogram.
The rally mirrored moves in international markets, where bullion rebounded as investors stepped in to buy on price weakness while closely tracking the escalating confrontation between the United States and Iran. Traders are increasingly focused on whether renewed military action could disrupt energy markets, lifting crude oil prices and complicating the global inflation outlook.
Spot gold traded near the $4,000-an-ounce mark after slipping 0.2% in the previous session, according to Bloomberg data. The recovery reflected a renewed preference for safe-haven assets as geopolitical risks intensified.
Oil prices, however, edged lower after two consecutive sessions of gains, even as U.S. forces carried out a fresh wave of strikes on Iranian targets. The pullback in crude suggests markets are still weighing the likelihood of any sustained disruption to global energy supplies.
For precious metals investors, the immediate focus remains on developments in the Middle East, where any escalation capable of driving oil prices higher could reinforce gold’s appeal as a hedge against inflation and geopolitical uncertainty.
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