A Seminar on gold and silver import through IIBX held in Kolkata aimed to educate qualified jewellers and Tariff Rate Quota holders, featured presentations by IIBX, SBI, and Brinks. The event highlighted the benefits of importing gold and silver through IIBX, including subsidized custom duty on precious metals. This initiative is expected to boost the growth of the jewellery industry in Eastern India. World Gold Council as knowledge Partner in a first-of-its-kind initiative in East India, the India International Bullion Exchange (IIBX), in association with the State Bank of India (SBI) and Brinks, conducted this informative seminar on importing gold and silver through IIBX.

Ashok Gautam, FRM, MD & CEO of IIBX, provided an in-depth overview of the entire IIBX ecosystem. He emphasized the advantages of importing gold and silver through IIBX and highlighted the available hedging options for gold and silver through Futures Contracts offered by IIBX. Bipin Panchal &. Sarath S Pillai from Business Development team gave presentation on the benefits of the Tariff Rate Quota under the Comprehensive Economic Partnership Agreement (and guided attendees on the process of filing TRQ applications with theDGFT, based on the latest trade notice issued on February 12. TRQ applicants were encouraged to start their applications at IIBX for FY 25-26 through the Pre-TRQ Allotment Window, a new initiative designed to facilitate fast-track onboarding as valid India TRQ holders.

The event, held on February 27, 2025, was supported by major jewellery associations and witnessed the presence of prominent industry stakeholders.

The seminar received overwhelming support from major jewellery associations, including IBJA, GJC, GJEPC, Swarna Shilpa Bachao Samity, Calcutta Gems and Jewellers Welfare Association, Burrabazar Bullion Gems and Jewellers Welfare Association, Howrah Jewellery Traders Association, Ankurhati Jewellery Manufacturers welfare Association, Kalikata Byabasai Samity.

 Samar De,  Pramod Dugar,  Ashok Bengani,  Sunil Poddar,  Sandeep Gupta,  Pankaj Parekh, Mr Alok Addya,  Abhijeet Dhar represented their Association respectively.Prominent industry leaders, including  Hasmukh Parekh (H.P. Jewellers),  Suvro Chandra (P.C. Chandra), and  Suvankar Sen (Senco Gold and Diamonds), Mr Yogesh Soni (Punam Chand Jewellers),  Amit Soni ( KIK Jewellers),  Rahul Dewal ( Jagdamba Jewellers ) graced the event with their presence. Major Bullion Dealers of East Indis  Umesh Kumar Soni ( Kartikey Bullion),  Harshad Ajmera ( JJ Gold House ),  Santosh Poddar ( Anjani Gold Pvt Itd ) promoted the event with open heart for the benefit of East India Jewellery Market.

Burrabazar Bullion Gems and Jewellers Welfare Association members,  Vishal Soni (G.M. Jewellers) and  Manoj Soni (ACPL), coordinated the event. The association’s executive committee members, including  Suken Das (Treasurer),  Navin Soni (Joint Treasurer),  Rupesh Tosawar, and  Yogesh Banka, played a key role in organizing the seminar.

The seminar marked a significant milestone in promoting the growth of the jewellery industry in Eastern India, and its success is expected to pave the way for future initiatives and unity among associations to work together for the East India Jewellery Industry.