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
Gold, silver prices on MCX trading cautiously on FOMC minutes report
Gold and silver prices on India’s MCX (Multi Commodity Exchange) are trading cautiously
They are following the ups and downs in global prices.This is because the latest FOMC minutes (from the US Federal Reserve’s January meeting) showed a more cautious (“hawkish”) view on future interest rate policies. Some officials want to pause rate cuts or even raise rates if inflation stays high. This reduced expectations for big rate cuts soon.
In early trading today, MCX gold went back above Rs 1.56 lakh per 10 grams. MCX silver is trading between Rs 2.44 lakh and Rs 2.46 lakh per 1 kg. Both metals are a little higher overall.
On the global side, spot gold dropped and is struggling around $4,960 per ounce.The FOMC notes showed Fed officials were divided. Some want to hold off on more rate cuts for now, but they might restart easing later if inflation gets better. Others even talked about possible rate hikes. They wanted the post-meeting statement to show both possibilities for future rates. Because of this, traders now expect fewer rate cuts.
Attention is now on important US data coming this week, like GDP and PCE (inflation measures).Short-term demand for gold and silver has also slowed because of China’s Lunar New Year holiday. Trading activity is low, and many investors are away. At the same time, geopolitical risks with Iran have come up again, with reports saying any US military action could last weeks after talks did not fully succeed.
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