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GJEPC Holds “Chaupal – 3Es: Educate, Empower And Export” For Zaveri Bazar Members

The Chaupal Was Aligned With The BCG-Backed “Export Roadmap For $100 Billion Gems & Jewellery Exports By 2040

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The Membership Department of GJEPC organised “Chaupal – 3Es: Educate, Empower and Export” for members of the Zaveri Bazar jewellery community, with a focus on helping manufacturers, traders and aspiring exporters understand the opportunities and support available within the export ecosystem.

Addressed by Mithilesh Pandey, Sr. Director, GJEPC, the interactive session highlighted the Council’s role in connecting the industry with the Government, facilitating exporters, opening avenues for international market access and supporting the growth of India’s gem and jewellery sector.

The Chaupal was aligned with the BCG-backed “Export Roadmap for $100 Billion Gems & Jewellery Exports by 2040” and the Exim Bank–GJEPC report, “Making Clusters Exportable”. Zaveri Bazar is among the 17 high-potential clusters identified under this export-oriented approach.

Pandey outlined a three-pronged way forward for the cluster, beginning with “Membership to Market”. Members were apprised of the benefits of GJEPC membership, including RCMC, access to international shows, policy advocacy, the Parichay Card for artisans and handholding support for first-time exporters.

A key part of the discussion centred BCG’s growth framework, which offers a roadmap for strengthening India’s export competitiveness:

Global Market Diversification: Greater focus on studded, lightweight and designer jewellery.

Cluster Scale-up & Competitiveness: Common Facility Centres, design labs and technology upgrades.

Ease of Doing Business: Simplification of EXIM procedures, the Risk Management System and AI-based customs appraisal.

Brand India: Initiatives such as “Crafted by India” and the IJEX platform for 365-day buyer connect.

Affordable Export Finance: Concessional credit, interest subvention and ECGC support for MSMEs.

Together, these pillars point to a larger shift—from simply encouraging exports to building the capabilities, infrastructure, market access and financial support required to make clusters more competitive globally.

The session also highlighted three Government initiatives  of particular relevance to Zaveri Bazar members: Under Districts as Export Hubs (DEH), Mumbai has been identified as a priority district; Niryat Disha provides export orientation and documentation training, while Niryat Protsahan offers mentorship and handholding for new exporters.

The discussion also covered the importance of GJEPC membership and RCMC, MSME schemes and Government support, district-level export opportunities, and the role of IJEX in connecting Indian exporters with global buyers.

A practical element of the Chaupal was its focus on export readiness. Members were introduced to the handholding support available through the Membership/MSME Department and the steps required to move from domestic business to international trade.

The session also emphasised the importance of having the necessary documentation in place, including IEC, ICEGATE registration, an AD bank account and Customs KYC—key requirements in preparing businesses to participate in international trade.

The interactive format gave Zaveri Bazar members an opportunity to better understand the export ecosystem, Government schemes and the support mechanisms available to help them expand beyond the domestic market. The session also generated strong interest among members in GJEPC membership and export-related support.

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Gold prices in India extend recovery on softer U.S. dollar, easing Treasury yields, lower crude oil prices.

Market participants attributed the firming metal prices to a pause in U.S. yield gains following strong demand at the latest 30-year U.S. Treasury auction, which relieved pressure on non-yielding assets.

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Gold prices in India extended their recovery on Saturday, with 24-carat gold climbing back above the 151,000 rupee mark per 10 grams, supported by a softer U.S. dollar, easing Treasury yields, and lower crude oil prices.

The domestic benchmark rate for 24K gold rose by 710 rupees, or approximately 0.47%, to 151,420 rupees per 10 grams. For bulk purchases, 100 grams of 24K gold stood at 1,514,200 rupees, up 7,100 rupees from the previous session.

Jewellery-grade 22K gold advanced by 650 rupees to 138,800 rupees per 10 grams, while 18K gold climbed 540 rupees to hit 113,570 rupees per 10 grams. Per sovereign (8 grams), 24K gold traded at 121,136 rupees and 22K gold at 111,040 rupees.

The rebound follows a volatile week for bullion. Over the past four sessions, 24K gold has climbed nearly 1.5%, gaining roughly 2,240 rupees from 149,180 rupees on Oct. 6. On the Multi Commodity Exchange (MCX), gold futures rebounded above 151,000 rupees after dipping toward the 149,000 rupee level earlier in the week.

In international markets, spot gold traded near $4,174.78 an ounce after recovering from $4,118.63 in the previous session and briefly breaching $4,200. International spot silver surged over 2% to trade around $60.40 an ounce, driving domestic silver rates in India to approximately 235,000 rupees per kilogram.

Market participants attributed the firming metal prices to a pause in U.S. yield gains following strong demand at the latest 30-year U.S. Treasury auction, which relieved pressure on non-yielding assets.

However, analysts warned that near-term gains may remain capped due to expectations surrounding Federal Reserve monetary policy.The key constraint is the Federal Reserve’s hawkish stance, with policymakers signaling that further tightening may be necessary to bring inflation back to target.

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