National News
GJEPC seeks government intervention over US reciprocal tariff proposal
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.
National News
BIS Introduces The Silver Refinery Certification Scheme; Framework Introduces “India Good Delivery For Silver”
Buyers, Institutional Investors, and Jewelers Are Guaranteed Strict Adherence To Exact Quality, Testing, and Traceability Standards. Silver From Any BIS-Approved Refinery Ensures A Verified Fineness and Purity
The Bureau of Indian Standards (BIS) has officially prioritized the domestic bullion sector by introducing the Silver Refinery Certification Scheme, that involved critical inputs and efforts by IBJA.
Mirroring the long-established certification ecosystem for gold, this framework introduces a structured “India Good Delivery for Silver” standard specifically tailored for silver bars and coins.
Buyers, institutional investors, and jewelers are guaranteed strict adherence to exact quality, testing, and traceability standards. Silver from any BIS-approved refinery ensures a verified fineness and purity.
Surendra Mehta, National Secretary- IBJA, said:
“BIS is introducing the Silver Refinery Certification Scheme, an initiative that involved critical inputs and efforts by IBJA. Mirroring the long-established certification ecosystem for gold, this framework introduces a structured India Good Delivery for Silver. Now, silver from any BIS-approved refinery ensures a verified fineness and purity. This will gradually end the impure silver bar market.”
Market structures have already evolved alongside this rollout. The Multi Commodity Exchange (MCX) aligned its exchange delivery protocols to accept BIS-standard domestic silver, allowing empanelled Indian refiners to fulfill physical delivery contracts directly on the exchange.
By formalizing the local refining of silver (including silver recovered as a by-product of gold dore), this scheme strengthens the domestic precious metals ecosystem in line with Aatmanirbhar Bharat objectives
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GJEPC, ECGC Programme Underlines Recent Changes In Export Credit Insurance For The GJ Sector.
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National News10 hours agoBIS Introduces The Silver Refinery Certification Scheme; Framework Introduces “India Good Delivery For Silver”
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National News12 hours agoAspect Bullion & Refinery Launches “India’s Biggest Gold Fest” With Zero Making Charges On Gold Coins and Bars
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National News12 hours agoGJEPC, ECGC Programme Underlines Recent Changes In Export Credit Insurance For The GJ Sector.
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International News9 hours agoIndia Delegation Arrives In Paris For Three Days Of Learning, Business & Collaboration
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