loader image
Connect with us

National News

GJEPC & IIBX achieve milestone with first duty-free gold import under advance authorization scheme

India’s First Duty-Free Gold Import Achieved via IIBX and GJEPC under DGFT’s I-Ux+ Scheme, Marking a New Era of Transparent and Regulated Bullion Trade

Published

on

1,645 Views

The India International Bullion Exchange (IIBX), in collaboration with the Gem & Jewellery Export Promotion Council (GJEPC), has achieved a major milestone by facilitating the country’s first-ever duty-free import of gold under the Directorate General of Foreign Trade’s  IU X  +. This breakthrough marks a new chapter in India’s bullion market, aligning with the government’s vision to streamline bullion imports through transparent and regulated channels.

Ashok Gautam, Managing Director & CEO, IIBX, said, “We thank the Gem & Jewellery Export Promotion Council (GJEPC) for the confidence it has bestowed on us. In our endeavour to support jewellery exports from India, IIBX has successfully enabled Advance Authorisation License Holder Qualified Jewellers to import bullion. The first transaction has been successfully concluded and cleared by Customs.”

The International Financial Services Centres Authority (IFSCA), through its latest circular issued on October 10, 2025, has consolidated and updated guidelines to enable Qualified Jewellers and India-UAE CEPA Tariff Rate Quota (TRQ) Holders to import gold and silver through IIBX. The circular simplifies eligibility norms, operational procedures, and compliance requirements, making the process more inclusive and efficient.

Under this mechanism, jewellers holding DGFT’s Advance Authorisation License and notified as Qualified Jewellers by IFSCA can now import gold through IIBX without paying import duty, provided the metal is used for jewellery meant for export. The platform ensures full transparency, traceability, and regulatory compliance throughout the transaction chain-from purchase on IIBX to clearance by Customs.

The development is expected to significantly boost India’s jewellery exports by reducing input costs and improving liquidity for exporters. It also strengthens IIBX’s role as a trusted global bullion marketplace operating from GIFT City’s International Financial Services Centre (IFSC).



Continue Reading
Advertisement JewelBuzz Banner
Click to comment
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

National News

Bhima Gold Unveils Ashtalakshmi Coin Collection for Akshaya Tritiya, Blending Devotion with Exquisite Design

A culturally rooted, insight-led launch that reimagines festive gold buying through storytelling, symbolism, and spiritual relevance.

Published

on

1,924 Views

In a move that blends cultural storytelling with product innovation, Bhima Gold has unveiled its Ashtalakshmi Coin Collection for Akshaya Tritiya – positioning gold not just as a purchase, but as a deeply symbolic expression of prosperity, faith, and intent.

Timed with one of India’s most significant gold-buying occasions, Akshaya Tritiya, the launch reflects a deeper cultural shift in consumer behaviour. While the festival continues to drive strong purchase intent, there is a growing preference for meaningful, purpose-led buying experiences over purely transactional consumption.

Aligned with this evolving mindset, the Ashtalakshmi coin collection has been thoughtfully conceptualised to blend tradition with deeper symbolism. Inspired by the eight sacred forms of Goddess Lakshmi, each coin represents a distinct dimension of prosperity—from wealth and nourishment to courage, knowledge, and continuity.

By bringing together Adi Lakshmi, Dhana Lakshmi, Dhanya Lakshmi, Gaja Lakshmi, Santana Lakshmi, Veera Lakshmi, Vijaya Lakshmi and Vidya Lakshmi, the collection reframes gold coins from being a generic festive purchase to a story-driven, culturally immersive product experience – one that resonates across generations and belief systems.

This launch also aligns with Bhima Gold’s larger centenary narrative of “Together Purever,” which focuses on legacy, shared traditions, and evolving consumer meaning. The collection becomes an extension of that philosophy – reinforcing how heritage brands are reinterpreting tradition for a more aware and emotionally driven consumer.

Customers can pre-book their favourite jewellery by paying just 10% in advance & get their jewellery on Akshaya Tritiya at the lowest rate, which gives customers more flexibility and helps them plan their purchases with greater confidence, especially at a time when gold prices are high.

Akshaya Tritiya has traditionally been associated with intention, belief, and the aspiration for prosperity, extending beyond a purely transactional act of buying gold. The Ashtalakshmi Coin Collection has been conceptualised to reflect this deeper cultural and spiritual significance, with each coin designed to carry a distinct meaning and sense of purpose. The initiative also aligns with evolving consumer preferences, where there is a noticeable shift towards jewellery that offers emotional, cultural, and spiritual resonance in addition to intrinsic value.

With gold prices near record highs and consumer sentiment becoming more considered, Bhima’s Ashtalakshmi Coin Collection signals a broader shift in the category — from price-led promotions to meaning-led engagement, where design, storytelling, and cultural relevance drive both differentiation and demand.

As legacy brands navigate a new era of conscious consumption, Bhima Gold’s latest offering highlights how tradition can be reimagined as experience, making gold buying not just an act of investment, but an expression of identity and belief.

Continue Reading

Trending

JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

We would like to hear from you...

GET WHATSAPP NEWS ALERTS

0
Would love your thoughts, please comment.x
()
x