National News
Gold Demand In India Sees Sharp Decline After Import Duty Hike
Gold demand in India has plummeted approximately 70% following the government’s decision to more than double the import duty on gold from 6% to 15%, effective May 13, 2026. Demand fell to about 7.5 tonnes in the fortnight ended May 27, 2026, compared to around 25 tonnes a year earlier.
Prime Minister Narendra Modi’s public appeal to citizens to curb gold consumption and higher fuel and food prices due to Iran war tensions have weakened overall consumer sentiment.
World Gold Council projects India’s total gold demand will contract by 50-60 tonnes (approximately 10%) in calendar year 2026.
National News
GJEPC Webinar Guides Members On Digital Services, E-RCMC Process and Membership Benefits
Presentation Underscored How These Initiatives Are Designed To Strengthen The Competitiveness Of India’s GJ Sector While Simplifying Business Processes For Exporters and Manufacturers.
GJEPC conducted a webinar on “Membership Benefits, Digital Directory & e-RCMC Process” on 16 July 2026, providing members with practical guidance on the Council’s services, digital platforms and regulatory processes.
The session was led by Mithilesh Pandey, Senior Director – Membership, GJEPC, who presented an overview of the Council’s role, organizational structure and the advantages of GJEPC membership. He also outlined several initiatives and services available to members, including MSME schemes, the Hand Carriage Facility, the Digital Members Directory, Bharat Ratnam Mega Common Facility Centre (Mega CFC), Importer Exporter Code (IEC), ICEGATE, AD Bank registration, Customs KYC, IJEX, IIJS exhibitions, the Parichay Card programme and the PM Vishwakarma Scheme.
Pandey explained how these initiatives are designed to strengthen the competitiveness of India’s gem and jewellery sector while simplifying business processes for exporters and manufacturers.
The webinar also featured a live demonstration by Archana Bhosale, Assistant Manager – Membership, GJEPC, who showcased the Digital Members Directory available through the GJEPC portal. She walked participants through the platform’s key features, including member login, profile management, company search, viewing rights requests and business networking tools.
Bhosale further demonstrated the process for updating the Importer Exporter Code (IEC) and submitting e-RCMC applications through the DGFT portal, offering step-by-step guidance to help members complete the procedures efficiently.
The webinar attracted strong participation from a total of 75 GJEPC members, who engaged actively during the interactive Q&A session. The speakers addressed a wide range of queries before the programme concluded with a vote of thanks to participants for their active involvement.
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