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
BCCI Panel Discussion Explored Ways To Channel Household Gold Into The Formal Financial System
If India Can Replicate The Convenience Of A Gold Loan While Offering Attractive Incentives, The Country Has The Potential To Mobilize Significant Domestic Gold Resources.
Bombay Chamber of Commerce & Industry organized a panel discussion on “Building India’s Gold Monetization Marketplace”, moderated by Neil Borate, Editor-in-Chief of The Federal’s fintech platform The Fynprint. The panel featured Khushboo Ranawat, Regional Chairperson – West, and Member – National Exhibitions, GJEPC, Richa Agarwal, Chief General Manager, SEBI; Ramakrishnan Padmanabhan, General Manager, Department of Metals & Commodities, IFSCA; Nilesh Lodaya, Chief Business Officer, CDSL; Rajnish Gupta, Partner, Tax and Economic Policy Group, EY India; and Gunveer Singh, Executive Director, Department of Payment & Settlement Systems, RBI.
The discussion explored ways to channel household gold into the formal financial system, strengthen India’s gold monetization ecosystem and reduce dependence on imports. Panelists noted that a significant share of India’s gold holdings consists of investment gold in the form of bars and coins, representing a substantial opportunity for future monetization. If India can replicate the convenience of a gold loan while offering attractive incentives, the country has the potential to mobilize significant domestic gold resources.
The seminar brought together regulators, market infrastructure institutions and industry leaders to discuss policy reforms, electronic gold receipts, tokenization and the development of a modern digital gold ecosystem. Speakers included Praveen Rai, MD & CEO of MCX, former SEBI Executive Director Pramod Rao, and senior officials from SEBI, IFSCA, RBI, CDSL and NSDL.
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