National News

Piyush Goyal meets EPCs, Industry Associations: strategies to address increase in US tariffs

Published

1 year ago

April 12, 2025

898 Views

During the meeting, GJEPC leadership, Anoop Mehta, Co-convener of Diamond Panel, GJEPC, and President, Bharat Diamond Bourse; and Sabyasachi Ray, Executive Director, GJEPC, conveyed the implications of the proposed Trump tariff hikes on the Indian gem and jewellery sector.

The session, attended by key industry stakeholders, focused on strategies to address the potential 10%-26% increase in tariffs on exports to the U.S. Shri Piyush Goyal emphasised key points during the discussion, aimed at strengthening India’s position amid evolving trade dynamics

1. The Hon’ble Minister highlighted India’s proactive role as a “first mover” in negotiating trade agreements under Prime Minister Narendra Modi’s leadership. expressing optimism about concluding talks within the agreed timelines.

2. He reassured G & J exporters, urging them “not to panic despite different speculations, and affirmed the Government’s full support to trade during this period of uncertainty.

3. Goyal also advised exporters to resist pressure from their buyers demanding discounts to offset the tariff burden and take a hit on their profitability.

4. Goyal also advised exporters to keep the flag of India as the trusted supplier flying high and not yield to enticements of rerouting supplies due to the tariff imbalances between countries, which have been created due to the new world order.

5. He also stated that the Govt. is in advanced talks for FTA with the UK, EU, New Zealand, etc., which will help the trade in getting full access to these new markets.

GJEPC urged the Government to recognise the gem and jewellery industry as one of the most affected sectors in the first phase of tariff negotiations, considering its significant dependence on the US market.

The Council highlighted the growing financial stress and high costs faced by industry units due to orders getting unserviceable due to tariffs and requested the introduction of special short-term relief measures by banks, similar to the concessions during Covid-era.

GJEPC also sought simplified financing options and support for exploring new markets to reduce overdependence on the US.

Hon’ble Minister Piyush Goyal acknowledged these concerns and assured the industry of support in easing operational challenges and help in promotion of Indian jewellery products in alternate markets.

Related Topics:2025 gjepc nationalnews US Tariffs

Up Next

GJEPC is Title Partner of IIJS Jewellers Cricket League

Don't Miss

GJEPC inaugurates 11th India Rough Gemstones Sourcing Show in Jaipur

Click to comment

Name*

Email*

Website

Name*

Email*

Website

0 Comments

Oldest

Newest Most Voted

Inline Feedbacks

View all comments

National News

Instamart and Kalyan Jewellers Enable Customers To Lock Today’s Gold Price For Akshaya Tritiya

Gold Rate Protection by Instamart & Kalyan Jewellers enables confident buying this Akshaya Tritiya

Published

2 hours ago

April 14, 2026

JewelBuzz Spread The Buzz

1,901 Views

This Akshaya Tritiya, jewellers are making it easier for gold buyers to plan despite changing prices. Instamart, India’s pioneering quick commerce platform, has partnered with Kalyan Jewellers to facilitate Gold Rate Protection, a first-of-its-kind feature that lets consumers lock today’s gold rate and buy on the day of Akshaya Tritiya, for whichever price is lower – the lock-in price or the market rate on that day.

Gold holds enduring significance during Akshaya Tritiya, symbolising prosperity and auspicious beginnings. As customers plan their purchases in the lead-up to the festival, ease and assurance become equally important. Instamart’s Gold Rate Protection makes it both convenient and reassuring for users ordering BIS hallmarked gold coins from Kalyan Jewellers.

How It Works
Between April 10 and April 16, 2026, consumers can select eligible Kalyan Jewellers gold coins on the Instamart app and pay 5% advance, starting from Rs. 500 for a 0.5 gm gold coin, to prebook and take delivery on Akshaya Tritiya. On April 19, between 8:00 AM and 12:00 PM IST, they complete their purchase at the lower of the two prices – gold rate on the day of pre-booking or as per delivery date, whichever is lower. All pre-booked customers will also receive a free silver coin from Kalyan Jewellers.

Arjun Choudhary, VP Growth, Instamart, Said:

“At Instamart, we’ve consistently looked to innovate around how Indians shop for precious metals during key occasions, from delivering 1 kg silver bricks during Dhanteras to introducing silver Rakhis for Raksha Bandhan. The Gold Rate Protection is a feature designed to help consumers navigate gold prices with greater confidence during the festival. By allowing users to secure a price in advance while still benefiting from any price drops, we strive to offer strong overall value to consumers. This is quick commerce going beyond convenience to deliver meaningful value on culturally significant purchases.”

Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers, Said:

“Gold rate protection has been a preferred feature across Kalyan Jewellers’ retail showrooms, offering customers greater assurance while planning their festive purchases. With Instamart, we are extending this for the first time to a quick commerce platform. As traditions evolve, we remain committed to making gold buying both meaningful and seamless.”

Last year, Instamart witnessed a surge of over 500% in gold and silver coin sales on Akshaya Tritiya compared to Dhanteras, underlining the growing appetite among Indian consumers for quick commerce as a trusted channel for auspicious purchases.

This initiative is the latest in Instamart’s continued effort to go beyond everyday essentials, cementing its role as a destination for meaningful, occasion-led purchases delivered with the speed and trust its customers have come to rely on.

All gold and complimentary silver coins* are BIS Hallmarked, 24 Karat Kalyan Jewellers gold coins, will be subject to availability* and subject to the terms of the offering.

T&C Apply

Gold Price Lock is a limited-period seller-led offer on select Kalyan Jewellers products listed on Instamart. A price-lock charge is required and will be adjusted against the final purchase made on April 19, 2026, between 8:00 AM and 12:00 PM IST. The final price will be the lower of the locked rate or prevailing market rate on the day. Offer, including a complimentary silver coin, is subject to availability and additional terms and conditions.