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 and Silver Prices Slide Sharply
The Sell Off Followed The U.S. Federal Open Market Committee’s (FOMC) Unanimous 12-0 Vote To Hike The Federal Funds Rate By 25 Basis Points
Indian gold and silver prices slid sharply on Thursday after the U.S. Federal Reserve raised key interest rates for the first time in three years, boosting the dollar and U.S. Treasury yields to long-term highs.
On the Multi Commodity Exchange (MCX), gold futures dropped more than 1,300 rupees to an intraday low of 150,483 rupees per 10 grams before trimming losses slightly to trade near 151,150 rupees. MCX silver crashed nearly 2,000 rupees, hitting a session low of 230,221 rupees per kg.
The selloff followed the U.S. Federal Open Market Committee’s (FOMC) unanimous 12-0 vote to hike the federal funds rate by 25 basis points to a range of 3.75% to 4.00%. The decision, led by Fed Chair Kevin Warsh, signals a tightening path to rein in sticky inflation.
The hawkish policy outcome pushed the benchmark U.S. 10-year Treasury yield above 5% for the first time since 2023, while sending the U.S. dollar to multi-week highs.
The Indian rupee breached the 96-per-dollar barrier for the first time since July 2026, trading around 96.10. While a weaker domestic currency typically buffers local gold prices against international declines, spot COMEX gold fell 1.5% to test critical support in the $4,300–$4,340 per ounce range, overwhelming local currency offsets.
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