National News
GJEPC and Trade Opportunities seminar: fostering knowledge-sharing, collaboration, and global competitiveness
GJEPC successfully organized an insightful seminar titled “GJEPC and Trade Opportunities” for the gem and jewellery community of Zaveri Bazaar on April 11, 2025. The event was aimed at raising awareness about the Council’s various initiatives and support systems designed to boost the growth and global reach of the Indian gem and jewellery industry. The seminar drew a strong turnout, with more than 200 industry professionals in attendance, including exporters, traders, wholesalers, young entrepreneurs, and members of prominent trade bodies.
The seminar began with a welcome address by Khusboo Ranawat , Regional Chairperson , Western Region and GJEPC Regional Representative, who highlighted the Council’s ongoing efforts to empower MSMEs and exporters by providing market intelligence, financial assistance, and opportunities for international exposure. The speaker emphasized the importance of capacity building and collaboration within the sector to drive sustainable growth.
This was followed by a detailed presentation by GJEPC officials, which covered the Council’s various export facilitation services, upcoming international trade fairs and buyer-seller meets, financial support schemes, and strategic trade advantages available under agreements such as the India-UAE CEPA. The session was tailored to equip participants with practical knowledge to help them tap into global markets more effectively.
A panel discussion featuring seasoned exporters and trade consultants provided valuable insights into navigating international markets. Panelists discussed strategies for expanding into new regions, overcoming the challenges faced by small businesses, and embracing digital tools and branding to stay competitive in the evolving landscape of the jewellery trade.
The event also included an interactive Q&A session, where participants actively engaged with the speakers on topics like export registration, compliance processes, product certifications, and government funding schemes. The open dialogue fostered a spirit of learning and encouraged first-time exporters to explore new possibilities with greater confidence.
In a special felicitation ceremony, GJEPC honored three key trade bodies for their unwavering support and contribution to the growth of the industry. Mumbai Wholesale Gold Association, Jewellers Youth Forum, and Zaveri Bazaar Welfare Association were felicitated along with their respective teams for their role in strengthening the ecosystem and promoting unity among the trade community.
The seminar was extremely well-received by all attendees, who appreciated the depth of information shared and the opportunity to network with peers and industry experts. The event reinforced GJEPC’s commitment to serving as a guiding force for the Indian gem and jewellery sector by fostering knowledge-sharing, collaboration, and global competitiveness.
National News
MCX Gold Sees Sharp Rebound On Value Buying As Dollar Softens
Domestic Spot Gold Rates Have Dropped 9% So Far In March, Battered By Volatility
Gold prices on the Multi-Commodity Exchange (MCX) staged a sharp rebound today, March 27,climbing almost 1% to Rs.1,43,829 per 10 grams for June futures, fueled by value buying against a backdrop of dollar weakness. MCX silver May contracts outperformed, rising nearly 2% to Rs.2,23,978 per kilogram in early trades.
The uptick comes after a bruising month for the yellow metal. Domestic spot gold rates have plummeted about 9% so far in March, battered by volatility tied to the escalating US-Iran war in West Asia. This conflict has propelled crude oil prices to elevated levels, bolstering the dollar index and pressuring gold as investors rotated into safer currencies.
Today’s reversal gained momentum from a softer US dollar, with the dollar index dipping 0.10%. For India’s gems and jewellery sector—where gold dominates 80% of wedding and festive demand—these swings underscore the fragility of MSME exporters reliant on stable import costs.
Yet, headwinds persist. Soaring crude prices, now hovering near $90 per barrel due to West Asian tensions, continue to inflate India’s import bill and fuel inflation fears. This dynamic weighs on gold’s safe-haven appeal, even as global central banks signal potential rate cuts later this year.
Jewellery retailers in Mumbai report cautious optimism, with some stocking up on dips for Akshaya Tritiya demand. However, sustained geopolitical risks could cap gains, as higher oil translates to pricier logistics for bullion imports.
Analysts eye COMEX gold at $2,650/oz for cues, with support at Rs.1,42,000 on MCX. For the trade, this volatility highlights the need for hedging tools and diversified sourcing amid Middle East uncertainties.
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