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GJEPC seeks government intervention over US reciprocal tariff proposal

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Top representatives of India’s gems and jewellery sector have urgently briefed Hon’ble Commerce Secretary  Sunil Barthwal, IAS, on the potential repercussions of the United States’ recent notice regarding reciprocal tariffs. The delegation, led by  Shaunak Parikh, Vice Chairman, GJEPC, along with  Adil Kotwal, President, Seepz Gem & Jewellery Manufacturers’ Association (SGJMA), and  Sabyasachi Ray, Executive Director, GJEPC, presented a detailed overview of the industry’s concerns and proposed mitigation strategies.

The briefing aimed to underscore the significant impact the proposed tariffs could have on Indian exports and the broader industry.  Satya Srinivas, IRS, Additional Secretary, Ministry of Commerce (MoC), and  Dnyaneshwar Patil, Development Commissioner, SEEPZ were also present to offer a comprehensive understanding of the issues at hand.

The US notice, which threatens reciprocal tariffs, has raised concerns within the Indian gems and jewellery sector, a key contributor to the nation’s export revenue. The industry leaders outlined the potential economic fallout and presented specific recommendations to safeguard interests.

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Augmont Strengthens ‘Recycle With Resilience’ Campaign To Promote Transparent Gold Recycling Across India

With 114 Gold For All Stores Currently Operational, The Company Is Creating Accessible Touchpoints for Consumers To Evaluate, Recycle, and Monetise Their Gold Through Transparent and Organised Channels

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Augmont, India’s leading gold platform, has launched the next phase of its “Recycle with Resilience” campaign to encourage consumers to unlock greater value from their dormant gold through organised and transparent recycling channels.

As part of the initiative, Augmont has introduced its AI-powered Gold Purity Evaluation Machine in Chennai to help address one of the key concerns consumers face while recycling gold, which is the lack of transparency in purity assessment and valuation. The initiative aims to build trust and encourage wider participation in organised gold recycling.

Gold recycling continues to gain momentum in India. While the country imported approximately $72.4 billion worth of gold in FY26, recycled gold contributed an estimated 125–150 tonnes in 2025 and is expected to increase to 200–250 tonnes in 2026. With household gold reserves estimated at nearly 30,000 tonnes, organised recycling presents a significant opportunity to improve resource efficiency and reduce reliance on imports.

Augmont is further enabling consumer participation in gold recycling through its growing network of Gold For All Centres across multiple states. With 114 Gold For All stores currently operational, the company is creating accessible touchpoints for consumers to evaluate, recycle, and monetise their gold through transparent and organised channels. Over the coming months, Augmont plans to expand this network further to enable greater recycling of old gold and make the process more convenient and accessible for consumers across key markets.

Commenting on the campaign, Ketan Kothari, Whole-Time Director, Augmont, said:

“India has one of the largest household gold reserves globally, yet a significant portion remains idle. Through our ‘Recycle with Resilience’ campaign, we aim to encourage consumers to view gold not just as an asset to store, but as a resource that can be responsibly brought back into the ecosystem.

Transparency remains central to increasing consumer confidence in gold recycling. By leveraging technology-led purity evaluation and enabling fair valuation, we aim to make organised gold recycling more accessible, trusted and consumer-friendly. Through our expanding Gold For All Centre network and technology-enabled infrastructure, we are committed to creating a seamless recycling experience for consumers across the country.”

Over the next 12 months, Augmont plans to expand technology-enabled gold appraisal centres across select markets while continuing consumer education efforts around the economic and environmental benefits of gold recycling.

Through this campaign, Augmont aims to strengthen confidence in organized gold recycling and contribute towards building a more efficient and self-reliant gold ecosystem in India.

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