National News
GJEPC Calls For Suggestions From Industry On Proposed Gold Reform Measures
GJEPC, Is Undertaking Consultations On Promoting Low-Caratage Jewellery, Revamping GMS, To Encouraging Exchange Of Old Jewellery To Boost Recycling
GJEPC is leading industry consultations to formulate a proposal on gold monetisation and measures to reduce India’s Current Account Deficit (CAD), following initial discussions on precious metals convened by the Ministry of Commerce & Industry.
GJEPC, in coordination with AIGJC and other industry stakeholders and GJEPC members, is undertaking consultations on promoting low-caratage jewellery, revamping the Gold Monetisation Scheme (GMS) to mobilise idle household gold, encouraging exchange of old jewellery to boost recycling, and discouraging passive gold investments such as bars and coins.
The industry paper will exclude temple gold, income tax amnesty measures, and any recommendation on reducing gold import duty. It also supports wider adoption of 9K, 14K and 18K hallmarked jewellery, stronger export incentives for the gems and jewellery sector, and safeguards against smuggling.
Jewellers are expected to remain the primary implementation channel, backed by declaration, valuation and monitoring mechanisms, while measures such as hedging and price protection may be explored to address gold price volatility.
GJEPC has invited member inputs by 28 May, with the consolidated proposal slated for submission to the Government by 5 June 2026.
GJEPC is leading industry consultations to formulate a proposal on gold monetisation and measures to reduce India’s Current Account Deficit (CAD), following initial discussions on precious metals convened by the Ministry of Commerce & Industry. GJEPC, in coordination with AIGJC and other industry stakeholders and GJEPC members, is undertaking consultations on promoting low-caratage jewellery, revamping the Gold Monetisation Scheme (GMS) to mobilise idle household gold, encouraging exchange of old jewellery to boost recycling, and discouraging passive gold investments such as bars and coins. The industry paper will exclude temple gold, income tax amnesty measures, and any recommendation on reducing gold import duty. It also supports wider adoption of 9K, 14K and 18K hallmarked jewellery, stronger export incentives for the gems and jewellery sector, and safeguards against smuggling. Jewellers are expected to remain the primary implementation channel, backed by declaration, valuation and monitoring mechanisms, while measures such as hedging and price protection may be explored to address gold price volatility. GJEPC has invited member inputs by 28 May, with the consolidated proposal slated for submission to the Government by 5 June 2026.
National News
VBJ Set To Host Madurai With An Exclusive Jewellery Showcase
Experience Timeless Craftsmanship Through An Exquisite Selection Of Gold, Diamond, Solitaire and Precious Stone Jewellery
VBJ, Vummidi Bangaru Jewellers, India’s most trusted heirloom jewellery brand, is set to host an exclusive two-day jewellery sale and exhibition in Madurai on 26th and 27th August 2026 at Fortune Pandiyan Hotel, Pandyan Hall, SH 72, Outpost, Ramaond Reserve Line, Madurai. Bringing its signature craftsmanship closer to customers, the exhibition will offer an opportunity to explore an extensive range of jewellery, along with an exclusive offer of Rs. 125 extra on exchange of old gold. The exhibition will remain open from 11 AM to 8 PM on both days.
Visitors can explore a diverse range of jewellery, from elaborate bridal masterpieces and statement necklaces to elegant everyday pieces, including bangles, earrings, rings, chains and gemstones. Bringing together the beauty of traditional artistry and contemporary design, the showcase reflects VBJ’s commitment to creating timeless pieces crafted with exceptional finesse and quality.
Speaking about the exhibition Amarendran Vummidi, Managing Partner, VBJ, said:
“Madurai has a rich appreciation for jewellery, and we are delighted to bring our signature collections closer to customers in the city. As a brand with a legacy spanning generations, our journey has always been rooted in preserving the heritage while evolving with the tastes of today’s customers. This exhibition is an opportunity for us to bring that legacy closer to jewellery enthusiasts in Madurai and celebrate the enduring appreciation for the fine craft that the city represents.”
Adding to this, Jithendra Vummidi, Managing Partner, VBJ, said:
“Craftsmanship has always been at the heart of every VBJ creation, with each piece reflecting our commitment to detail and quality. Through this exhibition, we are bringing together an extensive selection of gold, diamond, solitaire and precious stone jewellery to offer customers a distinctive experience, whether they are looking for a bespoke bridal creation or an elegant piece for everyday wear.”
As a fifth-generation family-run brand, VBJ takes immense pride in its legacy as the creator of the historic Sengol (sceptre) – a sacred symbol of India’s democratic journey. Rediscovered after 72 years through meticulous research by the VBJ team, the Sengol was reinstated beside the Speaker’s chair in India’s new Parliament building, Sansad Bhavan, by Hon’ble Prime Minister Narendra Modi, marking VBJ’s enduring bond with India’s cultural and national heritage.
Further strengthening its regional presence, VBJ is set to open its all-new showroom on Coimbatore’s 100ft Road soon, reaffirming the brand’s long-term commitment to serving customers across Tamil Nadu with personalised experiences and exceptional craftsmanship.
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