National News

INDIA-US announcement on reaching a framework for an Interim Agreement

GJEPC hails Interim Agreement framework as a major boost for exports, competitiveness, and India–US trade ties

Published

9 months ago

February 7, 2026

Welcoming the India–US announcement on reaching a framework for an Interim Agreement, the Gem & Jewellery Export Promotion Council (GJEPC) has termed the move a critical breakthrough for the Indian gem and jewellery industry. The proposed zero-duty access for diamonds and coloured gemstones to the US is expected to revive exports, restore global competitiveness, and provide timely relief to the sector after a prolonged period of tariff-led pressure.

“The Indian gem & jewellery industry is elated by the announcement of zero-duty access for diamonds and coloured gemstones to the US under the Interim Agreement framework — a decisive turning point that breathes new life into the sector.

The diamond sector had taken a severe hit over the past year, with India’s cut and polished diamond exports to the US — our largest market — declining by over 60%, from USD 3.64 billion in April–December 2024 to USD 1.45 billion in April–December 2025, as tariffs eroded competitiveness.

Recognising this risk early, GJEPC began focused engagement not only with Government of India but to the stakeholders in USA and across the world. In March 2025, GJEPC formally proposed for the inclusion of cut and polished diamonds and coloured gemstones under Annexure III at the IDMA Presidents’ Meeting in New York. This was followed by coordinated global advocacy through the World Diamond Council in May 2025, alongside representations to key US industry bodies.

Under the announced framework, duties have been reduced to 18% on jewellery, which itself provides meaningful relief to exporters. We are confident that, upon conclusion of the Interim Agreement, diamonds and coloured gemstones will receive full zero-duty treatment as envisaged, restoring competitiveness in our most critical market.

These efforts were actively taken up by the Government of India with the United States. We applaud and sincerely commend the Hon’ble Prime Minister, Narendra Modi, US President Donald Trump & Hon’ble Commerce & Industries Minister Piyush Goyal and the entire government machinery for the remarkable speed and efficiency in reaching this framework within days of the announcement of the deal, a testament to visionary leadership and an unwavering commitment to strengthening India-US trade ties.

The Council has also taken up with the Government of India the need to pursue inclusion of laboratory-grown diamonds and synthetic gemstones under the Annexure III exemption list of US tariffs.”

-Kirit Bhansali, Chairman, GJEPC

source: GJEPC

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National News

PNG Jewellers Marks 25 Years Of Paud Road Store With ‘Choosing Gold’ Marathi Edition Launch By Actress Shreya Bugade

Launched Within Three Months Of The English Edition, The Marathi Memoir Was Unveiled In The Presence Of Actress Shreya Bugade At PNG Jewellers’ Paud Road Store.

Published

5 hours ago

October 29, 2026

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Dr. Saurabh Gadgil, Chairman and Managing Director of PNG Jewellers, launched the Marathi edition of his debut memoir, Choosing Gold, in Pune, in the presence of popular Marathi actress Shreya Bugade. The Marathi edition comes just three months after the book’s English release in August 2026, bringing Dr Gadgil’s personal and professional journey closer to readers in his mother tongue. The launch took place at PNG Jewellers’ Paud Road store, which also celebrated 25 glorious years of serving customers and building lasting relationships in Pune.

Choosing Gold offers a deeply personal account of Dr. Gadgil’s journey as the sixth-generation custodian of PNG Jewellers, one of India’s oldest and most respected jewellery businesses with a legacy spanning 194 years. Originally published in English by Penguin Random House India in August 2026, the memoir reflects on the challenges, defining decisions and experiences that shaped his leadership and the evolution of the business. With the launch of its Marathi edition, this journey now reaches readers in a language closely connected to Dr. Gadgil’s upbringing, family and roots.

More than the story of a successful entrepreneur, Choosing Gold is an honest reflection on the responsibility of carrying forward a legacy while finding one’s own identity. Having taken over the leadership of PNG Jewellers, Dr. Gadgil navigated several defining moments that tested his conviction and shaped his outlook. The memoir revisits the lessons learned from setbacks, conversations with his grandfather and mother that stayed with him over the years, and personal experiences that influenced his decisions. It also offers insight into his approach to leading and transforming a nearly two-century-old family business while remaining rooted in the values on which it was built.

Speaking on the launch, Dr. Saurabh Gadgil, Chairman and Managing Director, PNG Jewellers, said:

“Ever since the English edition of Choosing Gold was released, I had been eagerly looking forward to bringing the book to Marathi readers. Marathi is my mother tongue, and seeing my experiences, decisions and learnings reach readers in my own language is a moment of immense pride and happiness for me. Writing this book allowed me to revisit several moments in my life. Some decisions worked out, some did not, and the significance of a few became clear only years later. Each of these experiences has shaped the person I am today. My family’s values, the rich legacy of PNG Jewellers and the trust our customers have placed in us have all played an important role in this journey.

I am particularly happy that the Marathi edition will allow me to connect with readers in a more personal way. If even one experience from my journey helps someone approach a difficult decision with greater confidence, I would consider the purpose of this book fulfilled.”

Popular Marathi actress Shreya Bugade, who graced the occasion as the chief guest, said:

“It is truly an honour to be part of the launch of the Marathi edition of Dr. Saurabh Gadgil’s Choosing Gold. What makes this occasion even more special is that we are also celebrating 25 glorious years of PNG Jewellers’ Paud Road store. It is a double celebration, and I am delighted to be part of it.”

The launch of the Marathi edition marks another significant milestone in Dr. Gadgil’s journey as an author. Going beyond the world of business, the memoir explores leadership, family, relationships, responsibility and the importance of believing in one’s decisions. Its themes extend beyond entrepreneurs and business professionals, offering relatable experiences and reflections for readers navigating their own ambitions, challenges and choices.

The occasion also marked the silver jubilee of PNG Jewellers’ Paud Road store, celebrating 25 glorious years of customer trust and relationships. Over the past two and a half decades, the store has built a strong connection with generations of customers in the neighbourhood, making it an important part of PNG Jewellers’ journey in Pune.