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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.

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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.

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Deepa Jewellers IPO Subscribed 43x

Bids From Non-Institutional Investors Spearheaded The Rally, Oversubscribing Their Reserved Allotment By Nearly 106 Times.

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Massive Demand: Deepa Jewellers’ Rs 460-crore ($55M) public offer closed 43 times oversubscribed on its final day of bidding.

Non-Institutional Lead: Bids from non-institutional investors spearheaded the rally, oversubscribing their reserved allotment by nearly 106 times.

Anchor Backing: The company secured Rs 138 crore from marquee anchor investors, including Motilal Oswal Finvest and WhiteOak CapitalMutual Fund, prior to the mlaunch.

Market Debut: Shares of the B2B gold supplier are set to list on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on September 8.

Gold jewellery supplier Deepa Jewellers saw massive investor appetite for its initial public offering, finishing its final day of book-building nearly 43 times oversubscribed on Thursday.

According to National Stock Exchange (NSE) data, the Rs 460-crore public issue received bids for more than 78.9 crore shares against an available pool of 1.85 crore shares.

The issue carried a price band of Rs 168 to Rs 177 per share, valuing the company at an estimated market capitalization of roughly Rs 1,700 crore at the upper end of the range. The offering comprised a fresh issue of equity shares worth up to Rs 250 crore alongside an offer-for-sale (OFS) of more than 1.18 crore shares.

Ahead of the public rollout, the Telangana-based company raised Rs 138 crore from prominent anchor investors, drawing capital from domestic heavyweights like Motilal Oswal Finvest and WhiteOak Capital Mutual Fund.

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