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DGFT Summit Explores E-commerce’s Role in Boosting Gem & Jewellery Export Potential

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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.

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National News

Precious Metals Ease On Resurgent U.S. Dollar, Shift In Geopolitical Sentiment

Any Breakthrough In Regional Tensions Could Further Alleviate The “Risk Premium” Currently Baked Into Metal Prices

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Precious metals eased on Wednesday as a resurgent U.S. dollar and a shift in geopolitical sentiment dampened demand for safe-haven assets.

Gold futures on the Multi Commodity Exchange (MCX) for June delivery opened at Rs. 1,54,757 per 10 grams, sliding from a previous close of Rs. 1,54,817. The contract hit an intraday low of Rs. 1,54,404, down 0.26%, as investors weighed the impact of potential peace talks between Washington and Tehran.

The slight retreat in bullion prices is primarily attributed to the Greenback’s recovery. A stronger dollar makes dollar-denominated gold more expensive for holders of other currencies, typically stifling demand.

While silver futures initially bucked the trend by opening higher at Rs. 2,54,343, the white metal succumbed to profit-booking, tumbling to an intraday low of Rs. 2,51,610—a 0.45% decline. In the international market, COMEX gold hovered near $4,837.3 per troy ounce.

With the August gold contract also trading lower at Rs. 1,54,725, market participants are keeping a close watch on U.S. diplomatic efforts. Any breakthrough in regional tensions could further alleviate the “risk premium” currently baked into metal prices.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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