National News
India-Armenia Business Forum To Explore Trade, Investment, and Collaboration
GJEPC, in collaboration with the Embassy of India in Armenia, successfully organised the India-Armenia Business Forum on Gems & Jewellery on 20 March 2026. Held in a hybrid format, the forum brought together leading Indian exporters and prominent Armenian companies to explore trade, investment, and collaboration opportunities.
Opening the session, H.E. Ms Nilakshi Saha Sinha, Ambassador of India to Armenia, highlighted the strong potential for bilateral cooperation in the gems and jewellery sector. She noted that Armenia has identified the sector as a priority for development and emphasised India’s global leadership in manufacturing, polishing, and exports. She also pointed out that 100% foreign direct investment is permitted under the automatic route in India’s gem & jewellery sector, encouraging Armenian companies to consider establishing manufacturing bases in India.
The Chief Guest, Arevik Margaryan, Head of the Department of Strategic Sector at Armenia’s Ministry of Economy, underscored Armenia’s investor-friendly policies. She highlighted tariff advantages for exports to key markets such as the United States and Russia, along with fiscal incentives and interest financing schemes for manufacturers operating in Armenia.
Adding industry perspective, Raffi Semerdjian, Secretary General of the International Chamber of Commerce (ICC) National Committee, Armenia, spoke about the country’s deep-rooted craftsmanship tradition. He noted the global presence of Armenian jewellers and the strength of its diaspora across major markets, which could serve as a bridge for expanding bilateral trade.
A detailed presentation by Sabyasachi Ray, Executive Director, GJEPC, outlined India’s capabilities, trade data, and opportunities for collaboration across diamonds, gold jewellery, gemstones, and manufacturing. He also highlighted GJEPC’s global initiatives and export promotion platforms.
The forum featured business introductions from both sides. Indian participants included Mital Doshi of Sparkel Diamonds, Yogendra Garg of Derewala Industries Ltd, and Ashish Borda of Anjali Diam, while Armenian companies such as Matrix LLC showcased their expertise in coloured gemstones and jewellery trade.
During discussions, stakeholders addressed the recent decline in bilateral G&J trade in FY 2024-25. Industry representatives cited banking constraints, falling global diamond prices, and customs-related challenges as key factors affecting trade flows. Both sides acknowledged these issues and expressed willingness to work collaboratively towards solutions.
Looking ahead, GJEPC invited Armenian participants to attend the 5th International Gems & Jewellery Show (IGJS) scheduled in Jaipur from 9-11 April 2026. The Embassy of India also proposed exchanging detailed company profiles to facilitate further engagement.
The forum concluded on a positive note, with both countries reaffirming their commitment to strengthening ties in the gems and jewellery sector through increased trade, investment, and industry collaboration.
National News
Augmont-NSE Partnership Drives Strong Start for India’s Gold EGR Market, with Over 1,60,357 Units Traded in First Few Hours
Electronic Gold Receipts segment witnesses active two-way trading on day one, with 1,60,375 units traded, representing approximately 6 kg of gold and a traded value of ₹23.34 crore as of 04:25 PM
India’s gold market took an important step towards greater integration with the commencement of live trading in the Electronic Gold Receipts (EGR) segment on the National Stock Exchange of India (NSE) today. Enabled through the collaboration between NSE and Augmont Enterprises Limited, the launch brings together NSE’s regulated exchange infrastructure and Augmont’s integrated physical gold ecosystem, creating a new avenue for investors to trade physically backed gold.
On its opening day, the EGR segment witnessed active two-way trading, with 1,60,357 units traded by approximately 04:25 PM, representing around 6 kg of gold. The trading activity translated into a cumulative traded value of approximately Rs.23.34 crore during the first session. The segment also demonstrated orderly price discovery, with prices remaining within a narrow intraday range of Rs.1,450.50 to Rs.1,460.00. The bid-ask spread remained between Rs.0.50 and Rs.1.00, indicating continuous two-way quotations and an active order book.
Each EGR represents 100 mg of physical gold, with the underlying gold held in SEBI-regulated vaults. Investors can buy and sell EGRs through their demat accounts on the exchange, while retaining the option of converting their holdings into physical gold, subject to the applicable framework. The segment follows a T+1 settlement cycle, under which trades executed on a particular day are settled on the next business day, facilitating the transfer of securities and funds through the exchange’s regulated clearing and settlement mechanism.
Under the strategic collaboration, Augmont serves as a key physical gold and infrastructure partner for NSE’s EGR segment, supporting the creation, vaulting, redemption and liquidity ecosystem. The gold backing the EGRs is sourced through Augmont’s integrated refining infrastructure, bringing together physical gold processing and exchange-based trading within a regulated framework.
The commencement of live trading marks an important step towards building a more transparent and accessible gold market in India. By enabling standardised gold to be traded through an exchange-based mechanism, EGRs have the potential to strengthen price discovery, improve market participation and create a more integrated ecosystem for physical gold.
Ketan Kothari, Whole-time Director, Augmont Enterprises Limited, said:

“The commencement of EGR trading marks the transition of our collaboration with NSE from building the underlying infrastructure to enabling a live, exchange-traded gold market. The day-one trading activity, continuous two-way quotations and orderly price discovery are important initial milestones for a new market segment.
At Augmont, we have brought together our refining capabilities and physical gold infrastructure to support the creation, vaulting and redemption of EGRs. We believe this initiative can play an important role in making physical gold more accessible, transparent and integrated with India’s formal financial ecosystem. Our focus remains on strengthening the ecosystem and supporting its wider adoption among investors, brokers and other market participants.“
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