National News
Gudi Padwa jewellery sales flat; demand for gold coins surges
Gold prices have surged to nearly Rs 90,000 per 10 grams (excluding GST) in the physical market, leading to a noticeable decline in jewellery sales in Maharashtra/Goa during Gudi Padwa, a festival traditionally associated with gold purchases. Despite this, demand for gold coins as an investment remains strong, as consumers anticipate further price appreciation. Mumbai’s largest gold hub has observed a shift in consumer behavior toward gold coins and bars. Traders said that buyers are purchasing gold coins with the expectation of future price increases.
As of Gudi Padwa, gold prices have reached nearly Rs 90,000 per 10 grams, making gold jewellery significantly more expensive. Higher prices have deterred traditional jewellery buyers, shifting demand towards investment-oriented purchases, such as gold coins. Industry experts anticipate that gold prices may continue to rise, reinforcing gold’s status as a long-term store of value.
Equal demand was observed between gold jewellery and investment-grade coins. Retailers introduced discounts and exchange offers, but high prices still impacted sales volume.Tier-2 cities experienced similar trends, with more gold coin buyers than jewellery shoppers. Lightweight jewellery, silver accessories, and gold-plated ornaments saw higher traction compared to heavy gold jewellery.
Global trade tensions and potential U.S. Fed rate cuts are boosting gold’s attractiveness as an investment. Investors are shifting towards gold due to its historical role as a hedge against inflation and economic instability The Indian Rupee’s performance against the U.S. Dollar is also a contributing factor to local gold price fluctuations.
National News
Shri Jitin Prasada, Hon’ble Minister Of State For Commerce & Industry, Government Of India, Inaugurates Customs Export-Import Facilitation Centre At SEEPZ-SEZ, Mumbai
State-Of-The-Art Customs Export-Import Facilitation Centre To Enhance Logistics Efficiency, Secure Handling Of Consignments, and Support MSME Exporters.
Hon’ble Union Minister of State for Commerce & Industry Shri Jitin Prasada inaugurated the Customs Export-Import Facilitation Centre (CEIFC) at SDF-VIII in SEEPZ-SEZ, Mumbai, on 19 June 2026, marking a significant step towards strengthening trade facilitation within the export zone.
The inauguration was hosted by Dnyaneshwar B. Patil, IAS, Zonal Development Commissioner, SEEPZ-SEZ. Senior officials present included Mayur R. Mankar, IRS, Joint Development Commissioner, SEEPZ; and Dr. Sandip D. Bhosale, IRS, Deputy Development Commissioner, SEEPZ.
Leading industry representatives present on the occasion included Kirit Bhansali, Chairman, GJEPC; Shaunak Parikh, Vice Chairman, GJEPC; Adil Kotwal, President, SGJMA; Colin Shah, Chairman – Working Group, Bharat Ratnam Mega CFC; and Vijay Gujarathi, Chairman, SEEMA, among other members of the trade and industry.
Shri Jitin Prasada, Hon’ble Union Minister of State for Commerce & Industry, said:
“The Customs Export-Import Facilitation Centre reflects the need to modernise with changing times. This world-class facility will particularly benefit small exporters by improving logistics and expediting clearances. India cannot afford to fall behind, and such infrastructure will strengthen our export ecosystem and enhance competitiveness. Quality remains paramount, and with a stable government and long-term vision, India is well-positioned to emerge as a global leader in trade and manufacturing.”
Shri Kirit Bhansali, Chairman, GJEPC, said:
“The FTWZ Broad-Banding approval for the Bharat Ratnam Mega CFC marks another important milestone in strengthening India’s gem and jewellery ecosystem. It transforms the Mega CFC into a global business hub by enabling international warehousing, product viewing and exhibitions under one roof. This will attract greater global participation, create new business opportunities for our MSMEs and reinforce India’s position as a preferred destination for gem and jewellery manufacturing, sourcing and trade. We thank the Government of India for its continued support in creating world-class infrastructure that enhances the competitiveness of our industry.”
The new CEIFC has been designed as a modern single-window centre that brings together key customs processes under one roof. It is equipped with dedicated infrastructure for customs examination, secure handling of valuable consignments and e-commerce operations.
Shri Jitin Prasada, Hon’ble Minister Of State For Commerce & Industry, Government Of India, Inaugurates Customs Export-Import Facilitation Centre At SEEPZ-SEZ, Mumbai
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