loader image
Connect with us

National News

GJEPC Collaborates with Delhi Customs to Streamline Jewellery Export via Personal Carriage

Follow-up meeting focuses on refining SOPs under Circular No. 09/25 – Customs to ease export processes through Delhi’s Precious Cargo Warehouse

Published

on

1,439 Views

On 15 April, a delegation from the GJEPC Northern Regional Office met with senior officials of Delhi Customs to further refine Standard Operating Procedures (SOPs) for the import and export of jewellery via personal carriage. This discussion followed an initial meeting held on 9 April and focused on the implementation of Circular No. 09/25 – Customs, dated 28 April 2025, with the goal of issuing a comprehensive public notice for the trade.

Key customs officials present included Mr. Dheeraj Rastogi, IRS, Principal Commissioner – Exports; Ms. Ashima Bansal, IRS, Commissioner – ACC Export; Mr. Vishal Pal Singh, IRS, Commissioner – Airport; Mr. Dibyalok Singh, IRS, Deputy Commissioner – ACC Shed; and Mr. Anuj Kumar Pandey, IRS, Additional Deputy Commissioner – Airport. Representing the GJEPC were Mr. Antarpal Singh Sawhney, Regional Chairman – North, and Mr. Anil Sankhwal, Convener, Studded Jewellery Panel.

The meeting primarily addressed ways to optimise the draft SOPs for hand-carried jewellery exports through the Precious Cargo Warehouse (PCW) operated by Celebi at Delhi Airport. GJEPC representatives proposed practical solutions to remove procedural bottlenecks and speed up customs clearance. Among their key requests was the establishment of a dedicated detention room for appraised parcels within the Central Warehousing Corporation (CWC) cargo shed to reduce delays and improve exporter convenience.

Customs officials, led by Mr. Rastogi, responded positively to the recommendations and assured the delegation of due consideration. They also advised GJEPC to initiate discussions with CWC for space allocation to implement the suggested changes effectively.

Continue Reading
Advertisement JewelBuzz Banner
Click to comment
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

National News

As gold prices hit historic highs, gold loans surge

Published

on

1,954 Views

For generations, the “locker of the house”—the family’s ancestral gold— was a sacred reserve of last resort. To pledge a wife’s mangalsutra or a grandmother’s bangles was a mark of deep financial shame, the ultimate signal of a family in distress.

But a fundamental shift in the Indian psyche is turning that social taboo into a sophisticated financial strategy. As gold prices hit historic highs, what was once “idle” jewelry is being recast as a high-octane asset class, driving triple-digit growth across the sector and attracting a new breed of affluent borrower.

The shift is most visible in the scale of borrowing. Historically, the gold loan market was dominated by the small borrower, with loans under Rs.2.5 lakh ($3,000) making up 60% of the market.

New data from CRIF High Mark reveals a sharp reversal:

  • FY2025: Small-ticket loans dipped to 51% of the market.
  • Current Fiscal (8 Months): Small-ticket loans have cratered to just 40%.

The vacuum is being filled by entrepreneurs and high-net-worth individuals (HNIs) who are using gold as collateral to secure single-digit interest rates for business expansion, often bypassing more expensive unsecured loans.

According to a Morgan Stanley note in Oct 2025, India holds about 34,600 tonnes of gold, valued at approximately ₹550 lakh crore. In comparison, the value of gold loans in India stands at around ₹15 lakh crore, against which nearly ₹25 lakh crore worth of gold is pledged.

Why Monetization Failed Where Loans Succeeded

The trend represents a private sector victory where government policy stumbled. In 2015, the Reserve Bank of India (RBI) launched the Gold Monetization Scheme to bring an estimated 25,000 tonnes of privately held gold into the formal economy.

The policy failed largely due to sentimental barriers. To earn interest, owners had to melt their jewelry into bullion, effectively destroying the artistic value and ancestral craftsmanship of heirlooms.

A Structural Change

Banking analysts suggest this is not a temporary spike, but a structural realignment in how India perceives wealth. The modern borrower is increasingly pragmatic, prioritizing the cost of capital over the stigma of the pawnshop.

As banks and NBFCs digitize the process—offering doorstep pick-up and instant credit—the traditional local moneylender is being replaced by fintech-driven platforms and institutional vaults.

The family gold is finally stepping out of the shadows—returning not as ornamentation, but as a powerful line of credit.

Continue Reading

Trending

JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

We would like to hear from you...

GET WHATSAPP NEWS ALERTS

0
Would love your thoughts, please comment.x
()
x