National News
GJEPC webinar on Credit Guarantee Scheme for exporters draws strong industry response
GJEPC hosted an interactive webinar on the Credit Guarantee Scheme for Exporters (CGSE), drawing participation from 90 industry members on 18th December. Hardik Mukesh Sheth, Director, Department of Financial Services, Ministry of Finance, delivered the keynote address.
Welcoming participants, Sabyasachi Ray, Executive Director, GJEPC, outlined the Export Promotion Mission and the CGSE. Sheth delivered a detailed presentation on the scheme, explaining that it is managed by the National Credit Guarantee Trustee Company Ltd. (NCGTC), with the Department of Financial Services as Settlor.
This Central Sector Scheme offers 100% guarantee cover to enhance liquidity and sustain production amid global geopolitical challenges, such as U.S. tariffs. With Rs.20,000 crore in credit flow support, the scheme aims to promote market diversification and drive sustainable growth in international trade, fully aligning with the objectives of Atmanirbhar Bharat.
Following the presentation, members raised questions which were addressed by Shri Sheth. Concluding the webinar, the Executive Director thanked him for his valuable insights, which will benefit the gems and jewellery trade.
The session saw a power packed panel of experts that comprisedSurendra Mehta, National Secretary- IBJA,Ranjith Singh,Head of Business Development, IIBX, Shweta Dhanak, Director – Vijay Exports,S Thirupathi Rajan, MD Goldsmith Academy, Shivanshu Mehta, SVP & Head Bullion-MCX.The session was moderated by Chirag Seth, Principal Consultant, Metals Focus.
Some salient points made by the panelists:
- Gold prices are not linked to consumer demand. They are linked to central bank buying and ETFs
- Till the banking system doesn’t collapse, gold price will continue to rise
- Jewellers were advised to use a mix of futures and options for risk mitigation
- Given the current situation manufacturers selling on credit or unfavorable deals could be fatal flaw for business.
- Precious metals forecast: Surendra Mehta said he sees gold in 2026 in $4900-5100 range and silver in $90-105.Looking further he said by 2030-2035 gold could touch $18000- 20000 and silver could reach $500. Chirag Seth predicted silver touching $105 this year and gold moving in the $ 5200- $ 5500.
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