National News
Gold imports up 40.79 pc to USD 2.68 bn in Jan
The country’s gold imports in January rose by 40.79 per cent to USD 2.68 billion on account of increasing domestic demands, according to commerce ministry data.Gold imports stood at USD 1.9 billion in January 2024.Cumulatively, imports during April-January this fiscal year rose 32 per cent to USD 50 billion against USD 37.85 billion in the same period last fiscal year.
The increase in imports also indicates strong investor confidence in the precious metal as a safe asset. The other reasons include asset diversification towards gold due to global uncertainties, increasing demand from banks, and cut in customs duties.Prices of the yellow metal have increased 11 per cent so far this year to ₹88,200 per 10 gram in the national capital.
National News
GJEPC Hosts U.S. Senators and State Lawmakers For Strategic Industry Dialogue In Mumbai
The Dialogue Underscored The Importance Of Engagement Between Policymakers and Industry Stakeholders In Fostering Mutually Beneficial Trade Relations.
Reinforcing the growing economic partnership between India and the United States, the Gem & Jewellery Export Promotion Council (GJEPC) welcomed a distinguished delegation of U.S. senators, state legislators, and representatives from the National Conference of State Legislatures (NCSL) at its Mumbai headquarters for an in-depth dialogue on the Indian gem and jewellery industry.
The visit provided a platform for exchanging perspectives on global trade, industry developments, and opportunities for strengthening bilateral cooperation between the two nations in the gems and jewellery sector.
The U.S. delegation comprised Wayne Harper, President Emeritus and President Pro Tempore, National Conference of State Legislatures (NCSL); Dan Saddler, Member, Alaska House of Representatives; Chase Blasi, Member, Kansas Senate; Chris Lee, Member, Hawaii Senate; Kirstin Kahaloa, Member, Hawaii House of Representatives; Ron Winterton, Member, Utah Senate, representing Daggett, Duchesne, Summit, Uintah and Wasatch counties; and Bryan Thomas, Chief Communications Officer, NCSL.
Welcoming the delegation were Kirit Bhansali, Chairman, GJEPC; Shaunak Parikh, Vice Chairman, GJEPC; Mehul Shah, Vice President, Bharat Diamond Bourse; Ashish Borda, Convenor – PMBD, GJEPC; Mital Doshi, Convenor – Banking, Insurance & Taxation Committee (BITC), GJEPC; Bharat Ghori, Member – Diamond Panel, GJEPC; and Sabyasachi Ray, Executive Director, GJEPC.
During the interaction, GJEPC representatives presented a comprehensive overview of India’s gem and jewellery industry, highlighting its contribution to exports, employment generation, skill development, and global supply chains. Discussions also focused on the evolving landscape of natural and lab-grown diamonds, international compliance standards, the Kimberley Process, and industry-led welfare initiatives.
The dialogue underscored the importance of continued engagement between policymakers and industry stakeholders in fostering transparent, sustainable, and mutually beneficial trade relations.
The meeting concluded with both sides expressing appreciation for the opportunity to exchange insights and explore avenues for greater collaboration in the evolving global gem and jewellery ecosystem.
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