Connect with us

National News

GJEPC and PCCCC Meet to Address Customs Clearance Challenges

On 5th February 2025, the Gem and Jewellery Export Promotion Council (GJEPC) hosted a significant meeting at its head office in Mumbai, bringing together Customs House Agents (CHAs) from the Precious Cargo Customs Clearance Centre (PCCCC) and various other stakeholders.

Published

on

The primary focus of the meeting was to address the ongoing challenges faced in the export and import clearance process, particularly the daily operational hurdles encountered during parcel clearance with customs officials.

The meeting provided a platform for participants to engage in open dialogue and share the various difficulties they face while managing customs procedures. These included issues related to the timeliness of clearance, paperwork discrepancies, communication gaps, and other operational bottlenecks that often delay the smooth transit of goods. The participants discussed these challenges in detail, aiming to identify practical solutions to streamline the entire process.

In response to the discussions, GJEPC has requested all involved stakeholders to compile and submit a comprehensive report outlining the specific challenges faced in customs clearance, as well as providing suggestions for potential system improvements. These reports are expected to play a crucial role in identifying areas that require attention and in formulating effective solutions that will enhance the overall efficiency of the customs operations.

GJEPC aims to use these insights to work closely with the relevant authorities and stakeholders to improve the integration process, ensuring a more seamless experience for businesses involved in the import and export of precious cargo. The initiative is expected to contribute significantly to reducing delays, improving transparency, and boosting the overall efficiency of the jewellery trade’s customs clearance procedures.

Continue Reading
Advertisement JewelBuzz Banner
Click to comment
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted

National News

Gold Sees Decline On Shifting Global Macroeconomic Cues

Spot Gold On The COMEX Hovered Around $4,057.85 Per Bounce, Indicating That The Cautious Sentiment Is Being Felt Across Global Markets.

Published

on

Gold prices on the Multi Commodity Exchange (MCX) experienced a notable pullback as market participants reacted to shifting global macroeconomic cues. The benchmark MCX Gold August 2026 Futures contract fell by 1.30%, trading at Rs 1,41,619.00 per 10 grams ahead of its upcoming expiry on August 5, 2026. Mirroring this downward trend, the Gold Mini (GOLDM) contract also slid, with its last traded price recorded at Rs 1,41,511.00.

The broader bullion market reflected a similar weakness. MCX Silver futures, set to expire on September 4, 2026, shed 1.60% of their value to trade at Rs 2,19,093.00 per kilogram. On the international front, spot gold on the COMEX hovered around $4,057.85 per ounce, indicating that the cautious sentiment is being felt across global markets.

Market analysts attribute this downward pressure to complex geopolitical and macroeconomic factors. While escalating conflicts in the Middle East would traditionally spur safe-haven demand, they have also kept inflation risks highly elevated. This sticky inflation has prompted widespread market expectations that the US Federal Reserve will maintain a prolonged high-interest-rate environment. Because higher interest rates raise the opportunity cost of holding non-yielding assets, investors have pulled back, keeping both gold and silver under pressure.

Continue Reading

Trending

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.

We would like to hear from you...

GET WHATSAPP NEWS ALERTS

0
Would love your thoughts, please comment.x
()
x