National News
India’s gold demand improves as prices dip
Gold demand in India saw a slight improvement towards the week’s end as prices fell from record highs, yet remained below normal levels. Discounts in China persisted due to low activity, and India’s imports are predicted to drop significantly by 85 per cent in February. Meanwhile, gold trades in Singapore, Hong Kong, and Japan show varying premiums and discounts.
India’s gold demand improved in the second half of this week but remained lower than normal as prices retreated from all-time-high levels, while traders continued to offer discounts in China as activity remained lacklustre. Domestic gold prices were trading around 84,750 rupees per 10 grams on Friday after hitting a record high of 86,592 rupees last week.
Indian dealers this week offered a discount of $12-$27 an ounce over official domestic prices, inclusive of 6 per cent import and 3 per cent sales levies, down from the last week’s discount of $35.
National News
GJEPC Co-Hosts Indo-Belgian Diamond Forum in New Delhi
Gem & Jewellery Export Promotion Council and HRD Antwerp bring together industry leaders and policymakers to deepen India–Belgium collaboration and discuss the future of the global diamond trade.
The Gem & Jewellery Export Promotion Council (GJEPC), in partnership with HRD Antwerp and the Embassy of Belgium in India, co-hosted the Indo-Belgian Diamond Forum at the Residence of the Ambassador of Belgium in New Delhi. The event was powered by INDRA – by De Beers Group & GJEPC, with Shivam Jewels as the Diamond Partner, BVC Logistics as the Logistics Partner, and Business of Jewellery as the Media Partner.



The forum celebrated the strong and longstanding partnership between India and Belgium in the global diamond trade. It brought together industry leaders, policymakers, diplomats and entrepreneurs to exchange insights on the evolving landscape of the diamond and jewellery sector and explore new opportunities for collaboration between the two countries.
The event was inaugurated in the presence of His Excellency Didier Vanderhasselt, Ambassador of Belgium to India; Kirit Bhansali, Chairman, GJEPC; Shaunak Parikh, Vice Chairman, GJEPC; Mansukh Kothari, Convener – Events, GJEPC; Stanley De Belie, Chief Operating Officer, HRD Antwerp; and Ramakant Mitkar, Managing Director – India, HRD Antwerp, along with other distinguished industry and government officials.

“India is committed to playing a responsible and constructive role in this global ecosystem. This year, India is honoured to serve as the Chair of the Kimberley Process for 2026. This responsibility reflects the trust the international community places in India’s leadership in promoting transparency, responsible sourcing, and ethical practices in the diamond trade. At the same time, India is taking important steps domestically to strengthen consumer confidence in diamonds.”Kirit Bhansali Chairman, GJEPC
A panel discussion during the forum explored key trends shaping the global diamond and jewellery industry, including consumer preferences, branding of natural diamonds, technological innovation, and opportunities for strengthening Indo-Belgian trade ties. The discussion featured Shaunak Parikh, Vice Chairman, GJEPC; Sabyasachi Ray, Executive Director, GJEPC; Toranj Mehta, Vice President Marketing, De Beers India; Priyal Shankar, Director, Shivam Jewels; Oushnik Chandra, CEO, PC Chandra Jewellers; and Ramakant Mitkar, Managing Director – India, HRD Antwerp.
The session was moderated by Prasad Kapre, Industry Analyst & Consultant at Blue Sky Business Management Group, who guided the discussion on the future of natural diamonds and global market dynamics.
Through such international engagements, GJEPC continues to strengthen global partnerships and reinforce India’s role as a key pillar of the global gem and jewellery industry.






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