National News
SBI research calls for policy to embed gold within India’s financial ecosystem
The State Bank of India (SBI) Research has urged the government to frame a comprehensive long-term gold policy to clearly define whether gold should be treated as a commodity or money, and to recognise its dual role as an investment and a cultural asset.
According to a report by Dr. Soumya Kanti Ghosh, Group Chief Economic Advisor at SBI, cited by IANS, India’s strong emotional and financial connection to gold makes it vital to integrate the metal into broader financial reforms. The study noted that while the West views gold as public property, in Asia — particularly India, China, and Japan — it remains a symbol of personal wealth and security.
The report, suggested exploring gold monetisation and gold-backed pension schemes, linking them with long-term economic goals.
Gold prices have surged over 50% in 2025 amid global uncertainty, boosting inflows into gold ETFs, whose assets under management rose 165% year-on-year to Rs.901.36 billion as of September. The Pension Fund Regulatory and Development Authority is also considering allowing pension funds to invest in gold and silver.
National News
GST Seminar Successfully Conducted by MWGJA for Jewellery Industry
Industry-Focused GST Session sees Strong Participation, Offering Practical Insights On Compliance, Taxation, and Operational Challenges
The Mumbai Wholesale Gold Jewellers Association (MWGJA) successfully organised a highly informative GST seminar aimed at empowering the jewellery industry with practical knowledge and clarity on GST compliance on 23/04/26 at MP School.
The seminar, themed “Empowering the Industry with Knowledge – Learning, Growing, Leading,” witnessed an excellent response from jewellers and industry stakeholders across Mumbai.

The event was graced by distinguished dignitaries from the CGST Department, including:
- R. S. Maheshwari – Principal Commissioner, CGST Mumbai
- Rajan Mishra – Assistant Commissioner, CGST Mumbai
- Danish Akhtar – Superintendent, CGST Mumbai
- Sanyam Johari – Inspector, CGST Mumbai
Their valuable insights and practical guidance provided clarity on key GST issues faced by jewellers in their day-to-day operations.
Key topics covered during the seminar included labour charges (5% vs 18%), delivery challan rules and compliance, interstate movement of goods for sales and exhibitions, and common errors leading to notices, penalties, and input tax credit (ITC) blockage.
The session focused on real-world challenges and offered practical solutions, making it highly beneficial for attendees. The interactive Q&A session enabled participants to directly engage with the officers and resolve their queries.
The association’s office bearers, including President Mahesh Bafna, Secretary Shreyans Kothari, Vice Presidents Sandip Kothari and Dinesh Kothari, Treasurer Kamal Kothari, Past President Prakash Jain, Past Secretary Anil Pamecha, and Committee Member Nitesh Dhakad, played an active role in organising and successfully executing the seminar.
The event also received valuable support from leading industry bodies, including All India Gem and Jewellery Domestic Council (GJF), India Bullion and Jewellers Association (IBJA), Jewellers Youth Forum (JYF), Dagina Bazar Association, and Sarafa Welfare Association, further strengthening the impact and reach of the seminar.

The Association expressed sincere gratitude to the honourable chief guests, supporting associations, and all participants for contributing to the success of the seminar. It reaffirmed its commitment to continue organising such knowledge-driven initiatives for the benefit of the jewellery community.
The seminar concluded on a positive and impactful note, reinforcing the importance of awareness, compliance, and continuous learning in today’s evolving GST framework.
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