National News
Seminar on gold and silver import through IIBX held in Kolkata
WGC,IIBX, in association with SBI and Brinks, conducted this informative seminar
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.
- Event marks 42 years of Incorporation and 16 years of Operations
- Recently-appointed Consul-General’s first visit to the Bourse helps strengthen a century-old bond
- Long service awards presented to outstanding employees
Bharat Diamond Bourse today marked 42 years of incorporation and 16 years since the commencement of operations at the BDB Complex in BKC with a special programme graced by H. E. Pierre Stverlynck – Consul General of Belgium in Mumbai as Chief Guest and a number of leading diamantaires.
The function was organised to celebrate the crucial roles played both by the visionaries who conceptualised the need for a centralised infrastructure to boost the diamond trade over four decades ago, and the employees who have run the daily operations in a highly efficient and professional manner.
In his Welcome Address, BDB Vice President, Mehul Shah explained the significance of celebrating twin milestones – 42 years of incorporation and 16 years of operations. He said:
“BDB began with a vision and is now the world’s largest operational bourse, and a symbol of India’s leadership in the diamond world and excellence in every aspect of operations.”
He added, “It is significant that the Consul General of Belgium is with us on this special occasion. Antwerp and Mumbai have a very close relationship, going back more than 100 years. Today the two cities have bonds based on trust, trade and friendship. We are committed to strengthening this bond over the next century as well.”
Congratulating the awardees he said that members may be the owners, but it is the staff who run the complex and have helped build it as the “best of the best” centres for diamonds. “Personal integrity combined with hi-tech surveillance have made BDB one of the safest places in the world,” he explained, and urged all present never to forget that “it is the soldiers who fight and win the wars.” Mr Shah offered compliments to all the awardees and congratulated Team BDB.
Speaking on the occasion, Anoop Mehta, President BDB, welcomed Mr Stverlynck who has recently assumed charge as Consul General of Belgium in Mumbai.
“We are sure that this will be the first of many visits to our Bourse,” he said, noting that the Consulate is the nearest neighbour of the complex.
“The BDB leadership has always enjoyed a very special relationship with the Belgian consulate,” he added, “built on the longstanding bonds between the diamond industry in our two countries.”
Mr Mehta said it was heartening that so many employees had remained loyal to the BDB for multiple years, and urged all gathered to reach out through their department heads to put forward suggestions for further changes and improvements
Mr Stverlynck, who was on his first visit to the Bourse after assuming charge as Consul General, said he was extremely impressed with the facilities available for exporters within the complex. Assuring the trade of cooperation and support, he said he was happy to be personally present to celebrate such a remarkable institution as BDB that has become a key pillar of the India diamond industry.
Congratulating the leadership for its role in steering the bourse, as well as those employees who had received long service awards, Mr. Stverlynck said:
“The consolidated knowledge and experience of so many from those at the top to a number of others who contributed in various ways, is an asset to the industry.”
Special long service awards were presented to employees who completed special milestones during the year. These included 30-year, 25-, 15-, 10- and 5-year service awards to a few employees.
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