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
NPCI Defers Rollout Of UPI Merchant Discount Rate Until After Diwali
Given Typical Retail Margins Of 2%–6% On Bullion and Plain Gold Jewellery, Absorbing A 0.4% Fee—Or Up To ₹300 Per Large Transaction—Would Have Directly Eaten Into Festive Profitability. The Deferral Keeps Bottom Lines Protected Through Dhanteras and Diwali.
The National Payments Corporation of India’s (NPCI) UPI and Services Steering Committee has deferred the implementation of Merchant Discount Rates (MDR) on select person-to-merchant (P2M) UPI transactions until immediately after Diwali.
The move aims to protect consumer sentiment and keep operational costs steady for businesses during the peak festive shopping season. A specific implementation date will be announced separately.
Key Highlights
- Festive Relief for Retail: The deferment ensures merchants face no additional payment processing costs during peak festive demand, helping avoid disruptions to consumer spending.
- The Approved MDR Structure:
- Applies only to eligible P2M transactions above Rs 2,000 at a rate of 0.4%.
- Capped at Rs 300 for high-value transactions of Rs 75,000 and above.
- Everyday low-value payments and small merchants remain fully exempt, preserving zero-cost digital transactions for general consumers.
- Timeline Adjustment: Originally notified on September 15 for an October 15 rollout, the framework will now take effect post-Diwali, giving banks, payment aggregators, and merchants additional runway to align their systems and communicate terms clearly.
Jewellery purchase values routinely exceed the Rs 2,000 threshold and frequently touch or surpass the Rs 75,000 cap. Given typical retail margins of 2%–6% on bullion and plain gold jewellery, absorbing a 0.4% fee—or up to Rs 300 per large transaction—would have directly eaten into festive profitability. The deferral keeps bottom lines protected through Dhanteras and Diwali.
Introducing transaction fees just as footfall surges would have forced retailers to decide whether to absorb the cost or pass it on to buyers (via checkout surcharges or selective discounts). Avoiding this choice prevents awkward billing counter negotiations and cart abandonment during rush hours.
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