National News
JYPL Season 8 : Beyond the Boundary: Business and Brotherhood at JYPL
Aarya 24KT Royal Rangers crowned champions; Auric All Stars bag runners-up spot
Jewellery Youth Premier League (JYPL) Season 8 saw another edition concluding successfully- brimming with exciting cricket, a competitive spirit and bonhomie. Jewellery Youth Forum, organizers of JYPL, have truly been successful in achieving their objective: conducting this cricket league to connect the jewellery fraternity and create a networking platform to foster business and brotherhood. This annual event has become a cornerstone for connecting industry stakeholders, promoting healthy competition, and strengthening professional relationships.
After 41 well contested matches, Aarya 24KT Royal Rangers were crowned champions, beating Auric All Stars by 47 runs in the finals. JYPL Season 8 was conducted from March 5-9, 2025 at Central Railway Ground, Parel, Mumbai. The exciting tournament saw 20 teams comprising 260 players (all owners representing the jewellery industry) and 300+ companies associated with the industry. Over 2500 attendees caught the action at JYPL.
JYPL was celebrated with pomp and splendour- the opening ceremony saw a grand marchpast with participating teams marching in with their team flags. The opening ceremony, oath taking ritual and other elements added to the event’s grandeur.The formal inauguration was done by Pramod Kumar Agrawal, Chairman – Derewala Industries along with Avinash Gupta, Vice Chairman – GJC. The Central Railway Ground provided an excellent venue for the tournament, accommodating the large number of participants and attendees. The Jewellery Youth Forum’s meticulous organization ensured the smooth execution of the event, contributing to its overall success.
| 🏆 Award | 🏏 Player | 🔹 Team |
|---|
| Man of the Match (Final) | Kashish Parmar | Aarya 24KT |
| Man of the Series | Kashish Parmar | Aarya 24KT |
| Best Batsman | Harshit Jain | Sky Gold Risers |
| Best Bowler | Krushant Jain | Auric All Stars |
| Best Fielder | Kashish Jain | Auric All Stars |
National News
WGC India Gold Market Update: Import Tightening
Part Of A Broader Push To Conserve Foreign Exchange Reserves Amid Geopolitical Uncertainty and Mounting Pressure On The INR
Highlights
- Gold import duty was raised sharply by 9%– from 6% to 15%, the steepest increase on record – alongside broader regulatory tightening
- Domestic gold prices have not yet fully reflected the duty hike amid weak demand and ample supply; local markets are currently in deep discount from the landed price
- Past trends indicate that higher duty increases unofficial inflows, although official imports remain relatively resilient
- Gold demand is expected to moderate in 2026, with jewellery and bar and coin demand projected to decline by 50–60t (~10% y/y) on account of the import duty hike.
Policy actions on gold imports
Since early April, the government has adopted a series of measures aimed at moderating gold imports. These have been part of a broader push to conserve foreign exchange reserves amid geopolitical uncertainty and mounting pressure on the INR, which has depreciated by more than 7% y-t-d. These measures include price-based actions, administrative and regulatory tightening, and consumer-directed messaging. While noteworthy, they are not unprecedented; gold is among the top five imports for India, accounting for 8% of the country’s merchandise imports in 2025, and similar measures have been utilised in the past.
On the price front, the gold import duty was raised sharply from 6% to 15%, making it the single largest increase on record and fully reversing the duty cut of July 2024. Rules were also tightened for gold imports linked to exports (under the advance authorisation scheme), and the Prime Minister has directly appealed to consumers, urging them to avoid buying gold for a year.
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