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
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.
National News
MCX Gold and Silver Futures Slip On Geopolitical Tensions & Inflation Fears
Traders Are Expected To Remain Cautious, Keeping A Close Eye On Upcoming US Economic Indicators Scheduled For Release Later This Week
Domestic and international precious metals markets experienced downward pressure on Tuesday morning as fresh US military actions in the Middle East reignited global inflation anxieties, overshadowing ongoing diplomatic negotiations.
MCX Silver Futures (July 2026 Delivery): Dropped by Rs. 3,731 (1.3%) to Rs. 2,72,985 per kilogram. MCX Gold Futures (June 2026 Delivery): Slipped by Rs. 547 to Rs. 1,58,534 per 10 grams. Global Spot Gold: Declined 0.7% to $4,537.54 per ounce.
The market reversal follows an announcement by the US Central Command confirming targeted strikes against missile launch positions and mine-deploying vessels in southern Iran. The sudden military escalation immediately disrupted recent optimism surrounding a potential US-Iran peace framework being brokered by Qatari mediators in Doha.
In response to the strikes, crude oil prices surged over 2%. The rebound in oil prices has fueled investor concerns over energy-driven, sticky inflation, reinforcing expectations that global central banks—including the US Federal Reserve—will maintain elevated interest rates for a prolonged period. While bullion is traditionally a hedge against inflation, higher interest rates increase the opportunity cost of holding non-yielding assets, strengthening the US dollar and lowering the appeal of gold.
Traders are expected to remain cautious, keeping a close eye on upcoming US economic indicators scheduled for release later this week, including GDP figures and Personal Consumption Expenditure (PCE) inflation data, for definitive policy directions.
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