GJ Town India

  This gold worth US$3.8tn & size 88.8% of India’s GDP   Recently, Morgan Stanley focused on the robust India Economics and published their report; Ecoview: Gold - All that Glitters! Key contributors, Upasana Chachra, Chief India Economist & Bani Gambhir, Economist of Morgan Stanley India reported, India's households’ wealth held in gold is estimated at US$ 3.8tn / 88.8% of GDP. This is providing a positive wealth effect, even as benign macro stability ensures that flow of gold demand  remains range bound.    With gold prices scaling new highs, “we take stock of trends in gold demand, stock of gold holdings with households, and the impact on macro stability” said Morgan Stanley by listing, 1: Gold prices are currently at all-time highs, trading around US$4056/oz, with domestic prices also reaching record levels of ~Rs127,300/10 gms. YTD, gold prices have risen by 54.6% in USD terms and 61.8% in INR terms.    2: India remains the world’s second...

  India’s GJ exports to escape global headwinds on the back of Brand India    On 7th October 2025, the National Institution for Transforming India [NITI] Aayog and the Gem & Jewellery Export Promotion Council (GJEPC) aligned their vision to strengthen the competitiveness and export potential of India’s Gem & Jewellery (GJ) sector. The meeting, held at the Bharat Diamond Bourse (BDB), Mumbai, brought together key stakeholders for strategic discussions on enhancing India’s global standing in gems and jewellery trade.   The well set dais noted the presence of Kirit Bhansali, Chairman, GJEPC; Shaunak Parikh, Vice Chairman, GJEPC; Anoop Mehta, Convener, Audit & Finance Sub-committee and Sabyasachi Ray, Executive Director, GJEPC. Along with the stakeholders the dais welcomed & hosted Sanjeet Singh, IRS - Senior Advisor, NITI Aayog, Government of India.   In his concise address, Singh reaffirmed India’s long-term development vision; Viksit B...

  Industry bests explore diplomatic & policy pathways   GJEPC convened an exclusive trade meet in hybrid mode on 6th October at Bharat Diamond Bourse (BDB) to address the mounting challenges faced by India’s gems and jewellery industry due to US reciprocal tariffs and explore legal pathways to mitigate their impact.   In his keynote address, Kirit Bhansali, Chairman, GJEPC, outlined the current state of affairs and potential solutions during these uncertain times. The meet, which was attended online and in-person by over 200 participants, highlighted worrying US export figures.   India’s gems and jewellery exports to the US dropped by 34.39% during April-August 2025 compared to the same period last year, falling from $3.9 billion to $2.56 billion. Natural cut and polished diamonds were hit hardest, with exports plummeting by nearly 51% in value terms and 35% in volume. Meanwhile, overall exports to the world grew marginally by 2.93%, with significant ...

  Kirit Bhansali, joins the Forum to unlock opportunities    The India–UK CEOs Forum, held in Mumbai on October 8–9, brought together leading business figures from both countries to discuss opportunities arising from the newly signed India–UK Comprehensive Economic & Trade Agreement (CETA). The agreement, concluded in May this year, is expected to transform bilateral commerce by eliminating tariffs on 99% of Indian exports to the UK and 90% of UK exports to India.    Among the key participants was Kirit Bhansali, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC), who represented India’s gem and jewellery industry. Speaking on the theme “Leveraging the India–UK CETA to Achieve Growth and Jobs,” Bhansali joined other top Indian leaders, including Uday Kotak, Karan Rathore, Dilip Shanghvi, Naren Goenka, Anil Agarwal, Harish Ahuja, Bhadresh Dodhia, and Namit Joshi.    The high-level forum was co-chaired by Sunil Bharti Mi...

  CBIC approve auto-approval for IFSC code registration system   In another step towards streamlining Customs procedures and enhancing trade facilitation, the Central Board of Indirect Taxes and Customs (CBIC) has introduced system-based auto-approval for IFSC code registration to enhance Ease of Doing Business.    As per the new initiative, the system will automatically approve requests for registration of the same incentive bank account and IFSC code for a particular Importer Exporter Code (IEC) at multiple Customs locations, provided the same combination has already been approved at any one location. Thus, manual intervention by the Port officer will be eliminated, and the system will directly approve such requests.    This initiative is aimed at, 1: swift processing of bank account and IFSC code approval requests, 2: simplifying the registration process at multiple ports, 3: ensuring faster and seamless credit of export incentives into expo...

  Congratulates Devendra Fadnavis for a visionary step towards   The All India Gem & Jewellery Domestic Council (GJC) wholeheartedly welcomes and congratulates the Government of Maharashtra for unveiling the Maharashtra Gem & Jewellery Policy 2025, a historic and forward-thinking initiative that marks a new chapter for the Indian jewellery industry.    Maharashtra has become the first state in India to introduce a dedicated policy framework for the gem and jewellery sector, reflecting the government’s deep understanding of the industry’s potential to drive employment, exports, investment, and innovation. The policy is expected to attract investments worth ₹1 lakh crore and generate over 5 lakh new jobs, further strengthening Maharashtra’s economy and positioning it as a world-class jewellery hub.    The policy is designed to promote ease of doing business, support cluster development, and create large-scale employment opportunities across the state...