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, Silver Futures See Sharp Drop Mirroring Action In Global Spot markets
U.S. Economic Strength Drives Fed Rate Expectations, Sparking Global Selloff
Precious metals plunged in Indian markets early Wednesday, tracking a global selloff as resilient U.S. economic data fueled expectations that the Federal Reserve will raise interest rates later this year.On the Multi Commodity Exchange (MCX), gold futures tumbled as much as 1% to an intraday low of 141,115 rupees per 10 grams, a drop of 1,416 rupees. Silver suffered even steeper losses, crashing by 5,662 rupees to hit a session low of 222,901 rupees per kilogram.
The sharp decline mirrored action in global spot markets, where gold continued to trade below the $4,000-an-ounce threshold, lingering at an eight-month low. Spot silver slid nearly 2% to trade near a seven-month low of $57.60 per ounce.
The primary catalyst for the selloff was a string of robust economic indicators out of the U.S., which underscored the economy’s underlying strength and complicated the inflation outlook.
- Labor Market Tightness: The latest Job Openings and Labor Turnover Survey (JOLTS) showed vacancies climbing to a two-year high. Wall Street analysts are forecasting another solid expansion in non-farm payrolls for June.
- Sticky Inflation: Recent core inflation readings have remained stubbornly above the Federal Reserve’s 2% target, according to data from Trading Economics.
Higher interest rates typically damp the appeal of non-yielding assets like gold and silver, as investors opt for higher-yielding U.S. Treasury bonds and a strengthening dollar. Markets are currently pricing in at least one Fed rate hike this year, with the first potentially arriving as early as September.
Beyond macroeconomic data, investors are closely monitoring geopolitical developments in the Middle East. Ongoing U.S.-Iran peace talks in Qatar have raised cautious optimism for a lasting ceasefire agreement, reducing the safe-haven premium that has historically supported precious metals. The two sides, however, are not expected to engage in direct negotiations.
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