National News
Gold discounts in India widened this week to their highest point in nearly eight months
Gold discounts in India widened this week to their highest point in nearly eight months, as a surge in prices to a record high dampened demand, while customers in other key hubs also remained on the sidelines. Indian dealers this week offered a discount of up to $39 an ounce over official domestic prices, including 6 per cent import and 3 per cent sales levies, up from a discount of $10 to $21 last week.
Indian dealers this week offered a discount of up to $39 an ounce over official domestic prices, including 6% import and 3% sales levies, up from a discount of $10 to $21 last week.
“Jewellers are not keen on building high-cost inventory at the end of the financial year, as they are busy closing accounts,” said a Mumbai-based dealer with a bullion-importing bank. India’s financial year runs from April until March 31.
India’s gold imports are set to tumble 85% in February from year-ago levels, reaching their lowest levels in 20 years, as demand is dampened by record-high bullion prices.
In China, the world’s largest consumer, gold traded at a discount of $1 to an $18 premium over spot prices. Meanwhile, dealers in Hong Kong charged premiums ranging from par to $2 per ounce.In Japan, bullion was sold between a discount of $3 and a premium of $0.5, a trader said. In Singapore, gold traded between a $0.50 discount and a $3 premium
National News
GJEPC Paris Jewellery Summit: India & France Explore New Frontiers in Luxury Jewellery
Objective is To Shift India’s Global Positioning From A High-Volume Manufacturing Hub To A Creative, Strategic Co-Creation Partner For France’s Luxury Maisons, Leveraging Indian Craftsmanship, Technical Scale, and Heritage Storytelling
Organised by the GJEPC a three-day summit (13–15 October) brought a curated delegation of 17 Indian jewellery companies to Paris. Led by GJEPC Vice Chairman Shaunak Parikh, the programme culminated in a Buyer-Seller Meet at the Paris Marriott Champs-Élysées.
Core Strategic Objective: Shift India’s global positioning from a high-volume manufacturing hub to a creative, strategic co-creation partner for France’s luxury maisons, leveraging Indian craftsmanship, technical scale, and heritage storytelling alongside French design authority and luxury branding.
Trade Context & Growth:India’s gem and jewellery exports to France grew 19.72% year-on-year to US478.78 million in FY2025–26 (representing 3.8% of France’s total US12.61B jewellery imports).
Gold jewellery exports rose 18.69% (US159.53M) and cut/polished diamonds rose 4.69% (US204.07M).
The India–EU Trade Agreement (concluded January 2026, targeted for implementation in 2027) provides renewed commercial momentum.
Key Summit Milestones & Discussions:
13 October (Embassy of India, Paris): Briefing on “The French Market & the Marketing of Desirability” focused on French consumer expectations, sustainability, traceability, and capability-building. Speakers included Dr. Marta Marcheva (Institut Sup de Luxe), Céline Dassonville (ethiwork / ex-Cartier), and Anish Kumar Singh (GJEPC France).
Networking & Panels (Ritz Paris): High-level discussions featuring Stanislas de Quercize (Messika board member, ex-CEO of Cartier & Van Cleef & Arpels) and Dr. Shalia Shah (Embassy of India). Highlighted the synergy of “hands meeting machine” (traditional artisan skills combined with modern precision tech) and ethical sourcing.
Long-term Ambition: Capitalize on India’s broader US85 billion domestic jewellery market (projected to hit US130B by 2030) and US$28B annual exports by inviting French houses, design schools, and retailers to visit Indian manufacturing hubs for direct artisan collaboration.
GJEPC Paris Jewellery Summit: India & France Explore New Frontiers in Luxury Jewellery
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GJEPC Paris Jewellery Summit: India & France Explore New Frontiers in Luxury Jewellery
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