National News
Titan expects to pay more to source gold from bullion banks as supply shrinks
Titan may face higher interest rates for leasing gold as bullion banks redirect supply to the U.S. due to high premiums on gold futures. This shift is causing a supply crunch and fluid interest rates. Titan’s growth outlook is uncertain amid fluctuating gold prices and potential U.S.-China trade tensions, despite strong third-quarter profits.
Indian jeweller Titan will likely have to pay higher interest rates to lease gold from bullion banks, which have increased shipments to the U.S. in search of bigger profits, tightening supply in other regions, the company said on Wednesday.
Jewellers such as Titan, which owns the Tanishq and CaratLane brands, lease gold from bullion banks, which import the metal, to avoid inventory risks due to fluctuation in prices of the yellow metal.
Global bullion banks are flying gold into the U.S. from trading hubs catering to Asian consumers to capitalize on the unusually high premium that U.S. gold futures are enjoying over spot prices, Reuters reported this week.
At the fourth meeting of the reconstituted Board of Trade (BoT) held in New Delhi on 25th November, Shaunak Parikh, Vice Chairman, GJEPC, and Sabyasachi Ray, Executive Director, GJEPC, joined industry leaders and policymakers for discussions led by Piyush Goyal, Hon’ble Minister of Commerce & Industry.
The GJEPC leadership also interacted with Rajesh Aggarwal, Commerce Secretary, during the meeting, which focused on India’s export momentum, the economic outlook, and the government’s ongoing push to strengthen the country’s global trade position.
Parikh thanked the Minister for launching the Export Promotion Mission and for placing the gem and jewellery sector in the priority list. He noted the upcoming EU and G7 requirements that call for full traceability of diamonds from January 2026. He urged the Ministry to recommend extending the implementation timeline to at least July 2026, or until global standards, guidelines and pilot systems are finalized.
Mr. Parikh also raised concerns about restrictions on gold, silver and platinum alloy and jewellery imports. He requested that licences for non-FTA countries, where no duty benefit exists, be issued through the automatic route to ease business operations for exporters.
The BoT meeting also reviewed progress on major trade facilitation initiatives, including the rapid expansion of the Trade Connect e-Platform, improvements in grievance redressal, the extension of the RoDTEP scheme, and advances made in digital Certificates of Origin.
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