International News
The 2nd SEZ Gem and Jewellery Conclave
Conclave provided valuable insights in technology, branding, exports, SEZ policy
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.
International News
Precious Metals Under Pressure Despite Near-Term Rate Hold Expectations
Precious metals experienced sharp liquidation as investors sold assets to cover cash needs during broader stock market declines.
While rising energy costs boosted oil, precious metals experienced sharp liquidation as investors sold assets to cover cash needs during broader stock market declines.
Gold: Spot gold briefly dipped below $4,000 to $3,993.96 per ounce—its lowest level since mid-July—recording a 4% weekly decline before staging a partial recovery to $4,026. In domestic retail markets in India, 24K gold edged up slightly by ₹100 to ₹1,42,580 per 10 grams following recent sharp drops.
Silver: Extended its losses to $53.50 per ounce, marking its lowest level since November 2025 due to softening industrial sentiment and a 6% drop in the prior session.
Recent U.S. consumer and producer price data showed higher-than-expected inflation, largely propelled by elevated energy costs. The rise in oil prices has reinforced expectations that the U.S. Federal Reserve will maintain a “higher-for-longer” interest rate environment.
Despite the persistent inflationary pressures, markets expect the Federal Open Market Committee (FOMC) to leave interest rates unchanged at its upcoming October 27–28 meeting.
According to a study, traders are currently pricing in less than a 10% chance of a rate hike in October, compared to an 80% probability for the December meeting. Investors are now awaiting the U.S. PCE inflation data due on October 29 for further policy guidance.
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