National News
GJEPC Hosts U.S. Senators and State Lawmakers For Strategic Industry Dialogue In Mumbai
The Dialogue Underscored The Importance Of Engagement Between Policymakers and Industry Stakeholders In Fostering Mutually Beneficial Trade Relations.
Reinforcing the growing economic partnership between India and the United States, the Gem & Jewellery Export Promotion Council (GJEPC) welcomed a distinguished delegation of U.S. senators, state legislators, and representatives from the National Conference of State Legislatures (NCSL) at its Mumbai headquarters for an in-depth dialogue on the Indian gem and jewellery industry.
The visit provided a platform for exchanging perspectives on global trade, industry developments, and opportunities for strengthening bilateral cooperation between the two nations in the gems and jewellery sector.
The U.S. delegation comprised Wayne Harper, President Emeritus and President Pro Tempore, National Conference of State Legislatures (NCSL); Dan Saddler, Member, Alaska House of Representatives; Chase Blasi, Member, Kansas Senate; Chris Lee, Member, Hawaii Senate; Kirstin Kahaloa, Member, Hawaii House of Representatives; Ron Winterton, Member, Utah Senate, representing Daggett, Duchesne, Summit, Uintah and Wasatch counties; and Bryan Thomas, Chief Communications Officer, NCSL.
Welcoming the delegation were Kirit Bhansali, Chairman, GJEPC; Shaunak Parikh, Vice Chairman, GJEPC; Mehul Shah, Vice President, Bharat Diamond Bourse; Ashish Borda, Convenor – PMBD, GJEPC; Mital Doshi, Convenor – Banking, Insurance & Taxation Committee (BITC), GJEPC; Bharat Ghori, Member – Diamond Panel, GJEPC; and Sabyasachi Ray, Executive Director, GJEPC.
During the interaction, GJEPC representatives presented a comprehensive overview of India’s gem and jewellery industry, highlighting its contribution to exports, employment generation, skill development, and global supply chains. Discussions also focused on the evolving landscape of natural and lab-grown diamonds, international compliance standards, the Kimberley Process, and industry-led welfare initiatives.
The dialogue underscored the importance of continued engagement between policymakers and industry stakeholders in fostering transparent, sustainable, and mutually beneficial trade relations.
The meeting concluded with both sides expressing appreciation for the opportunity to exchange insights and explore avenues for greater collaboration in the evolving global gem and jewellery ecosystem.
National News
Gold Gains Rs 85 On MCX; Silver Jumps Rs 2,033 On Softer US Inflation Data
Gold Recovered After Opening On A Weak Note, While Silver Extended Its Gains. In International Markets, Gold Eased After Opening Firm, Whereas Silver Continued To Trade Higher.
Gold and silver futures traded higher in the domestic market on Monday, supported by softer US inflation data, declining crude oil prices and easing expectations of further interest-rate hikes by the US Federal Reserve.
Gold recovered after opening on a weak note, while silver extended its gains. In international markets, gold eased after opening firm, whereas silver continued to trade higher.
On the Multi Commodity Exchange (MCX), the benchmark October gold contract opened at Rs 1,51,793 per 10 grams, down Rs 27 from its previous close of Rs 1,51,820. The contract later recovered and was trading at Rs 1,51,905 per 10 grams, up Rs 85. During the session, it touched a high of Rs 1,51,947 and a low of Rs 1,51,461.
Silver futures opened higher, with the benchmark September contract starting at Rs 2,31,799 per kg, up Rs 333 from the previous close of Rs 2,31,466. The contract subsequently climbed to Rs 2,33,499 per kg, recording a gain of Rs 2,033. It touched an intraday high of Rs 2,33,618 and a low of Rs 2,31,660.
In the global market, gold was trading near $4,400 per ounce on Comex, while silver was quoted at around $63.70 per ounce.
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