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New Personal Carriage Facility by Kolkata Customs Set to Boost Gems & Jewellery Export Efficiency

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In a significant step to promote exports from Eastern India, the Office of the Principal Chief Commissioner of Customs, Kolkata Zone, has launched a new personal carriage facility for the export of gems and jewellery through Kolkata Port. The initiative is designed to streamline trade operations and enhance the ease of doing business in the region.

Unveiled during an official launch event, the new facility allows exporters to hand-carry gems and jewellery abroad for exhibitions, promotional activities, and trade purposes. Customs officials presented comprehensive guidelines and procedural details to help stakeholders take full advantage of the facility.

Shri S.H. Dange, IRS, Principal Chief Commissioner of Customs, Kolkata Zone, urged exporters to make use of this progressive measure, highlighting its potential to support the growth of the gems and jewellery (G&J) sector.

The event drew participation from key industry stakeholders, including the Gem & Jewellery Export Promotion Council (GJEPC), represented by Shri Pankaj Parekh, Eastern Regional Chairman, along with Regional Committee Members and senior officials.

Leading jewellery brands such as M/s. Sabyasachi Calcutta LLP, M/s. Hasmukh Parekh Jewellers, and M/s. Modern Impex were present and welcomed the initiative, noting its value for international brand promotion and export facilitation.

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National News

Gold, Silver extend retreat as stronger dollar pressures bullion

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Precious metals extended their retreat for a second consecutive week as a firmer U.S. dollar and fading expectations of near-term interest-rate cuts from the Federal Reserve weighed on investor appetite for bullion.

In India, gold futures on the Multi Commodity Exchange settled below the ₹1.60-lakh mark per 10 grams at the close of trading on March 14,  silver futures declined about 1% for the day, reflecting persistent selling pressure across the metals complex.

Global markets echoed the weakness. Spot gold slipped more than 1%, struggling to hold above $5,050 an ounce, while spot silver tumbled roughly 4% to trade near $80.50 an ounce.

The pullback comes as the strengthening dollar reduces the appeal of dollar-denominated commodities. At the same time, investors are recalibrating expectations that the Federal Reserve will move quickly to ease monetary policy, diminishing one of the key catalysts that had propelled bullion prices higher earlier this year.

Together, the firmer currency and shifting rate outlook have triggered broad profit-taking in precious metals, pushing both gold and silver to their second straight weekly decline.

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