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The 2nd SEZ Gem and Jewellery Conclave

Conclave provided valuable insights in technology, branding, exports, SEZ policy

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The Second SEZ Gem and Jewellery Conclave held at Bharatratnam Mega CFC in SEEPZ, Mumbai, brought together influential stakeholders from across the gem and jewellery sector to deliberate on industry growth, innovation, and policy advancements.The conclave provided valuable insights into the latest industry trends in technology, branding, exports.

The conclave was inaugurated by Dr P Anbalagan, IAS, Principal Secretary, Industries  Department, Government of Maharashtra. Present at the inauguration were Kirit Bhansali, Chairman, GJEPC, Saunak Parikh, Vice Chairman, GJEPC, Suvankar Sen, MD, Senco Gold & Diamonds, Sabyasachi Ray, ED, GJEPC, Colin Shah, Head of the Working Group, Bharat Ratnam Mega CFC and Adil Kotwal, Director – SEEPZ GJ Manufacturers Association.

Dr. P Anbalagan in his inaugural address said “The Union and state governments aim to grow India’s economy from USD 3 trillion to USD 30 trillion, requiring double-digit growth across sectors, with Maharashtra as a key driver. As the state with the highest FDI, Maharashtra targets a USD 1 trillion economy in 4-5 years, needing 13-14% annual growth. We are looking at the GJ sector as generator of employment and employment.The employment intensive GJ sector will be cornerstone of Maharashtra becoming a $1 trillion economy.The GJ sector in Maharashtra is contributing 47 per cent of India’s GJ exports.”

Track 1 – Technology included: Platinum Group Metal Recycling , Dr Debashish Bhattacharya, Technical Director of Covalence, India, Casting, Stamping and Tubing in Platinum, Dr.  Peter Hofmann, Chairman of INDUTHERM, Germany and Rakesh Jangid, Technical Director, Lagor India, 3D Printing of Precious Metal for Commercial Use-Dr Andrea Friso, R&D Head, Legor Italy ,Technology in Diamond Testing, Jayant Kulkarni , Partner ,SGL, Challenges in Identification of Lab Grown Diamonds by Deepa Srinivasa, Chief Gemmologist – Research & Development – GSI, India

Track 2 – Branding included: Redefining Businesses by Sachin Jain, Educator, LÉCOLE School of Jewellery Arts , Dubai, Revitalizing Diamond Desire by Amit Pratihari, Managing Director, De Beers.

Track 3 – Investments included: Booster to G&J Manufacturing by  Sabyasachi Ray, Executive Director, GJEPC ,Draft Report of Common SoP for SEZs  by Nishant, Partner, ELP.

With key decision-makers in attendance, the conclave promises to be an influential platform for shaping the future of the sector.

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International News

UAE retail gold prices dropped by Dh10 per gram within a single day

Prices dropped by Dh10 per gram in a single day, offering a strategic buying window for consumers

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After a month of sustained price surges, the UAE retail gold market witnessed a significant correction on Monday morning. Prices dropped by Dh10 per gram within a single day, offering a strategic buying window for consumers and jewelry shoppers who had been sidelined by recent record-breaking highs.

Current Market Dynamics

The sudden price volatility is attributed to two primary global drivers:

  • Strengthening US Dollar: A resurgent dollar has dampened global demand for gold. Investors are currently favoring cash and dollar-denominated assets as preferred safe havens.
  • Geopolitical Turmoil: The escalating conflict involving Israel and Iran—marked by the recent leadership transition in Iran and strikes on regional oil infrastructure—has caused sharp fluctuations in commodity and metal markets.

Impact on Dubai Retail

As a primary global hub for bullion trading, Dubai’s retail rates reacted instantly to these international shifts. Market analysts describe this Dh10 dip as a “brief window of relief” for resident shoppers and those purchasing for the upcoming wedding season.


Key Indicators at a Glance

MetricDetail
Price Movement-Dh10 per gram (24-hour change)
Market SentimentHigh volatility; cautious optimism for buyers
Primary PressureStronger USD & Middle East geopolitical tensions
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