National News
GJEPC Showcases Export Growth Strategies and Membership Benefits at Maharashtra’s District Investment Summit
At the 2025 Summit hosted by the Directorate of Industries, GJEPC emphasized its key initiatives to boost exports, support MSMEs, and empower jewellery manufacturers across districts.
The Gem & Jewellery Export Promotion Council (GJEPC) actively participated in the District Investment Summit 2025, organized by the Directorate of Industries (MMR, Mumbai), Government of Maharashtra, on 16th April in Mumbai, under the theme “Attracting Investment, Promoting Growth, Empowering Districts.”
Representing GJEPC, Mr. Mithilesh Pandey, Director – Membership, presented the Council’s wide array of initiatives and services designed to empower gem and jewellery businesses, particularly MSMEs and regional manufacturers.
Mr. Pandey highlighted the core benefits of GJEPC membership, including participation in prestigious platforms like IIJS (India International Jewellery Show) and IJEX (India Jewellery Exposition Centre), along with export facilitation tools such as courier and hand-carry modes, India Post’s Dak Niryat Kendras, and e-commerce tie-ups with platforms like eBay.
He also outlined GJEPC’s efforts to make logistics more affordable through subsidised services, and detailed how members can leverage free trade agreements like CEPA (with UAE) and ECTA (with Australia) to access global markets more competitively.
In addition, Mr. Pandey spoke about business development programs such as buyer-seller meets, the IC Scheme, and Capacity Building Scheme, as well as financial support options like collateral-free loans under the India Jewellery Park Mumbai (IJPM). He further emphasized the comprehensive infrastructure solutions available to jewellery manufacturers, designed to streamline operations and enhance productivity.
The session underlined GJEPC’s commitment to supporting regional growth, empowering entrepreneurs, and making India a global leader in gem and jewellery exports.
National News
MCX Gold Sees Sharp Rebound On Value Buying As Dollar Softens
Domestic Spot Gold Rates Have Dropped 9% So Far In March, Battered By Volatility
Gold prices on the Multi-Commodity Exchange (MCX) staged a sharp rebound today, March 27,climbing almost 1% to Rs.1,43,829 per 10 grams for June futures, fueled by value buying against a backdrop of dollar weakness. MCX silver May contracts outperformed, rising nearly 2% to Rs.2,23,978 per kilogram in early trades.
The uptick comes after a bruising month for the yellow metal. Domestic spot gold rates have plummeted about 9% so far in March, battered by volatility tied to the escalating US-Iran war in West Asia. This conflict has propelled crude oil prices to elevated levels, bolstering the dollar index and pressuring gold as investors rotated into safer currencies.
Today’s reversal gained momentum from a softer US dollar, with the dollar index dipping 0.10%. For India’s gems and jewellery sector—where gold dominates 80% of wedding and festive demand—these swings underscore the fragility of MSME exporters reliant on stable import costs.
Yet, headwinds persist. Soaring crude prices, now hovering near $90 per barrel due to West Asian tensions, continue to inflate India’s import bill and fuel inflation fears. This dynamic weighs on gold’s safe-haven appeal, even as global central banks signal potential rate cuts later this year.
Jewellery retailers in Mumbai report cautious optimism, with some stocking up on dips for Akshaya Tritiya demand. However, sustained geopolitical risks could cap gains, as higher oil translates to pricier logistics for bullion imports.
Analysts eye COMEX gold at $2,650/oz for cues, with support at Rs.1,42,000 on MCX. For the trade, this volatility highlights the need for hedging tools and diversified sourcing amid Middle East uncertainties.
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