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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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MCX Gold Futures Traded Flat,Silver Prices Decline

​A Firm U.S. Dollar and Elevated U.S. Treasury Yields Kept Precious Metals Under Pressure As Investors Maintained A Cautious Stance

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Domestic gold futures traded flat on Tuesday while silver prices moved lower, dragged down by a stronger U.S. dollar and elevated bond yields, even as surging crude oil prices driven by escalating Middle East tensions offered underlying support. 

​MCX gold futures were virtually unchanged at Rs 151,101 per 10 grams, while silver futures slipped 0.37% to Rs 231,830 per kg.

​A firm U.S. dollar and elevated U.S. Treasury yields kept precious metals under pressure as investors maintained a cautious stance ahead of the Federal Reserve’s upcoming interest rate decision. However, sharp gains in energy markets limited deeper losses in bullion. 

​Crude oil rallied to three-month highs following fresh military escalations between the U.S. and Iran. Brent crude futures traded near $107 per barrel, while West Texas Intermediate (WTI) hovered around $103 per barrel.

​In retail physical markets, domestic 24-carat gold held steady around indicative levels of Rs 154,080 per 10 grams, while silver was quoted near Rs 244,900 per kg, subject to regional taxes and making charges.

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