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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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National News

Likitha KR  jewellery piece inspired by   iconic Bandra Worli Sea Link

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Likitha KR, founder of Niraaj Diamonds in Bengaluru, has crafted a concept jewellery piece that draws deep inspiration from Mumbai’s iconic Bandra-Worli Sea Link. Her daily commute across this architectural marvel sparked the idea for a design that captures the essence of the bridge and the spirit of Mumbai itself.

“The design is interlinked to this sky and water way bridge. This statement piece indicates the heart of Mumbai”, says Likitha KR.

Design Inspiration and Symbolism-

Sky and Water Connection:

Likitha’s design is “interlinked to sky and water way bridge,” reflecting how the Sea Link unites the city’s land, sea, and skyline. The bridge’s role as a connector between Bandra and Worli, and as a symbol of Mumbai’s progress, is central to her concept.

Sapphire Stone as the Sky

The prominent sapphire stone in the piece represents the vast sky above the Arabian Sea. This choice echoes the bridge’s aesthetic integration with its coastal environment, where the blue of the sky and sea blend seamlessly.

Strings as Bridge Cables

The strings in the jewellery mimic the Sea Link’s signature cable-stayed design. Just as the bridge’s cables support its structure and create a striking silhouette, the strings in the piece provide both physical and visual connection, referencing the bridge’s engineering and elegance.

Diamond-Studded Pathway

The central pathway of the jewellery, set with diamonds, symbolizes the roadway of the Sea Link. This is where thousands of Mumbaikars travel daily, making it the “heart of Mumbai” as Likitha describes. The use of diamonds highlights the bridge’s modernity and the city’s vibrant energy.

Sapphire Baguettes as Water

Sapphire baguettes are used to represent the Arabian Sea beneath the bridge. Their placement and shape evoke the movement and depth of water, reinforcing the connection between the city, the sea, and the sky.

Architectural Parallels

The Bandra-Worli Sea Link itself is a feat of modern engineering and design:Its cable-stayed structure with tall towers and sweeping cables is both functional and visually iconic, making it a recognizable part of Mumbai’s skyline.The bridge’s aesthetic integration with the natural environment, using sleek lines and a blue-white palette, is mirrored in Likitha’s jewellery through her choice of gemstones and arrangement.The Sea Link is a symbol of Mumbai’s aspirations and connectivity, and the jewellery aims to encapsulate that spirit in wearable art.

Artistic and Emotional Impact

Likitha KR’s creation is more than just a piece of jewellery; it is a tribute to Mumbai’s resilience and ambition. By translating the Sea Link’s architectural features into gemstones and gold, she has created a statement piece that resonates with anyone who identifies with the city’s pulse.

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JB Insights

Gold loans shine brightest in India’s retail credit segment

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According to Reserve Bank of India (RBI) data, outstanding loans against gold jewellery soared 103% to ₹2.09 lakh crore as of March 2025, up from ₹1.03 lakh crore a year earlier, making gold loans the fastest-growing category even as overall bank credit growth slowed

Several factors have converged to fuel this remarkable expansion:

  • Rising Gold Prices: The value of pledged jewellery increased as gold prices surged, enabling borrowers to secure larger loans against the same collateral.
  • Regulatory Shifts: The RBI’s crackdown on unsecured lending, particularly personal and microfinance loans, prompted both banks and non-banking finance companies (NBFCs) to pivot toward secured lending products like gold loans
  • Loan Reclassification: In 2023, the RBI directed banks to reclassify certain agricultural loans as gold loans, further boosting the reported figures
  • Shift from Informal to Formal Sector: Regulatory tightening and digital onboarding have encouraged borrowers to move from informal lenders to banks and NBFCs, especially in southern India where gold-backed lending is deeply entrenched

Market Impact and Outlook

Gold loans now account for approximately 3.5% of total retail credit, up from 1.2% five years ago 

Lenders highlight the appeal of gold loans for their low credit risk and quick disbursal, with repeat customers often leveraging rising gold prices to refinance or increase their borrowing limits.

Contrary to popular perception, gold loans are not limited to financially distressed borrowers. Banks report growing demand from small businesses and middle-class households seeking short-term working capital, with average ticket sizes exceeding ₹1 lakh and low default rates.

 

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National News

Limelight appoints Rupali Shrivastava as Chief Marketing Officer

Former Malabar & Rio Tinto executive to drive next phase of growth, aiming for 100 stores by 2026

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 Limelight Lab Grown Diamonds, India’s largest lab grown diamond luxury brand, is pleased to announce the appointment of Rupali Shrivastava as its new Chief Marketing Officer. Rupali joins the leadership team with a sharp focus on accelerating brand growth, expanding consumer reach, and driving deeper engagement in the rapidly growing lab-grown diamond space and further strengthening its connection with the modern Indian consumer.

With a strong track record in retail and brand marketing, Rupali has led consumer-centric strategies across leading brands including Malabar Gold & Diamonds and Rio Tinto. Her deep expertise in digital-first brand strategy and a nuanced understanding of consumer behavior and the fine jewellery retail landscape positions her perfectly to strengthen Limelight’s market presence and brand narrative.

“The lab-grown diamond industry is witnessing exponential global interest, driven by conscious consumers who are seeking sustainable, high-quality diamonds without compromise,” said Rupali Shrivastava. “Limelight stands at the forefront of this transformation in India, and I’m excited to build on this momentum bringing in fresh storytelling, digital depth, and retail excellence that aligns with what today’s consumers truly care about.”

Speaking about the appointment, Pooja Madhavan, Managing Director of Limelight Lab Grown Diamonds, said, “In the current phase of the Brand in term of scale & tapping into the large opportunity ahead of us, it is imperative that we continue to add exceptional talent at every level of the organization. Rupali’s understanding of premium retail, her sharp consumer lens, and her experience in building disruptive category-defining companies makes her a great fit for Limelight. Her experience at the intersection of global strategy and local nuance will be key as we scale the brand in India and internationally.”

Limelight is proud to be the first exclusive lab-grown diamond jewellery brand globally to be certified as ESG compliant, reflecting its commitment to sustainable luxury. As lab-grown diamonds move from niche to mainstream, Limelight continues to set benchmarks in design, quality, and awareness. With Rupali onboard, the brand is poised to amplify its presence and deepen its resonance with modern, value-driven consumers across geographies.

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