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 Prices Decline On Strengthening Dollar
The Dip Comes As Investors Weigh A Complex Geopolitical Backdrop Against The Federal Reserve’s “Higher-For-Longer” Interest Rate Stance
Gold prices retreated on Monday as a strengthening dollar and persistent inflation anxieties outweighed the cautious optimism surrounding a new diplomatic overture from Tehran. Futures for the precious metal on the Multi-Commodity Exchange (MCX) slipped 0.15% to 1,51,119 rupees per 10 grams in morning trade, while silver followed suit, declining 0.08%. The dip comes as investors weigh a complex geopolitical backdrop against the Federal Reserve’s “higher-for-longer” interest rate stance, which continues to bolster the greenback.
The primary catalyst for market volatility remains the dual blockade in the Persian Gulf. While crude oil prices eased slightly on Monday, they remained supported above the $100-per-barrel mark.
The slight cooling in energy markets followed a series of posts from President Donald Trump, who announced that the U.S. Navy would begin “Project Freedom”—a humanitarian operation to escort nearly 900 commercial vessels currently stranded in the Strait of Hormuz.
For gold investors, the tug-of-war between safe-haven demand and a hawkish dollar is reaching a fever pitch. While the conflict in the Middle East provides a floor for bullion prices, the inflationary pressure of $100-plus oil is keeping the U.S. Federal Reserve on the offensive.
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