GJ Town India

  GJEPC & AAICLAS deliberate on expanding domestic cargo facilities   According to the sources, Ajay Bhardwaj, CEO of AAI Cargo Logistics and Allied Services Company Limited (AAICLAS) had inaugurated the In-Line Baggage Handling and Scanning System (ILBHS) on 29 October 2025 at Surat International Airport.   In the row, Ajay Bhardwaj also attends the scheduled meeting with Gem & Jewellery Export Promotion Council (GJEPC), Southern Gujarat Chamber of Commerce and Industry (SGCCI) & stake holders. Export players & Stakeholders raised the need to set up an international cargo terminal from Surat International Airport. Exports, Trade & Commerce representatives updated Ajay Bhardwaj about the export scope including diamonds & jewellery and the need of international cargo. Ajay noted the stake holders’ suggestions to initiative the setting up an international air cargo facility.    Initially, t he Union Cabinet chaired by the Prime Mi...

  BDB observes 150th Anniversary of Sardar Vallabhbhai Patel    The Bharat Diamond Bourse (BDB) sparkled with pride and unity as it commemorated a month woven with history, achievement, and collective memory. Hundreds of diamond merchants, staff, and senior leaders came together to mark the 150th birth anniversary of Sardar Vallabhbhai Patel—India’s Iron Man and architect of national unity—with a spirited, Run for Unity; and the vibrant observance of Ekta Diwas.    A Grand Tribute to the Architect of Unity: On October 31st, echoing the nationwide call by Hon’ble Prime Minister Narendra Modi ji, the BDB campus in Bandra-Kurla Complex was abuzz with the energy of over one hundred members and employees participating in the dynamic run. The event was not just a show of athleticism but a powerful testament to the ideals Sardar Vallabhbhai Patel espoused—a vision that transformed a fractured land into a singular, united nation. Sardar Patel’s legacy, as the m...

  DIL & DoC clarify operational & policy frameworks for MSMEs   Recently, GJEPC organised a webinar on, Supply of Duty-Free Precious Metals to Exporters. The session brought together nearly 150 industry stakeholders to discuss procedures, challenges, and policy frameworks surrounding the procurement of duty-free gold and silver.    The session featured Nirakar Chand, CEO – Precious Metals, Diamond India Limited (DIL), as the keynote speaker, and was moderated by Sabyasachi Ray, Executive Director, GJEPC. Also in attendance were Tariq Thomas, Director, Department of Commerce (DoC); Ms. Tuhina Das, Deputy Director, DoC; and K.K. Duggal, Senior Director – Policy, GJEPC.    Sabyasachi Ray outlined the procedures for obtaining duty-free gold and silver through various schemes under the Foreign Trade Policy, including Replenishment, Outright Purchase, and Gold Metal Loans via nominated agencies.  He explained DIL’s role as a DGFT-notified...

  Gold & silver nose dive during Diwali week after a 10-week rally   Dr. Renisha Chainani, Head- Research, Augmont focuses on, gold and silver prices crashed in the Diwali week! A stronger US dollar, declining physical demand in Asian hubs like China and India, and profit-booking at recent highs all contributed to gold prices closing lower for the first time in ten trading weeks.    As investors booked gains after a protracted record-breaking rise, gold saw its biggest one-day dip in more than ten years this week, falling more than 6%. The dramatic reversal is the result of months of speculative positioning linked to worries about fiscal weakness and anticipation of further rate cuts by the Fed. In spite of the sharp fall, gold's overall prognosis is still optimistic.    Although silver paralleled gold's decline, it saw a more severe correction of about 9% as profit-taking increased following its big increase earlier this month. A brief rela...

  DGFT clarifies upon the GJEPC seeking clarity on SEZ & EOU Units    In a significant clarification addressing industry concerns, the Directorate General of Foreign Trade (DGFT) has issued Policy Circular No. 06/2025-26, outlining the applicability of restrictions on the import of Silver Jewellery imposed through Notification No. 34/2025-26.    The said notification had earlier restricted the import of Silver Jewellery falling under ITC (HS) Codes 71131141 and 71131149, prompting several representations from the trade, particularly from the Gem & Jewellery Export Promotion Council (GJEPC), seeking clarity on whether these restrictions extend to units located in Special Economic Zones (SEZs) and Export Oriented Units (EOUs). After careful examination, the DGFT has clarified that imports of Silver Jewellery by 100% EOUs and SEZ units shall not be subject to these restrictions, in line with Para 6.01(d) of the Foreign Trade Policy (FTP) 2023 and Ru...

  The US dollar’s fate remains key for gold investment!   In the recently published, Q3 2025- Gold Demand Trends by World Gold Council [WGC] presented the Outlook for gold Investment 2025. According to the Outlook, the fate of the US dollar remains key for investment decisions, under headlines such as, debasement and de-dollarisation.    There is some disagreement about how readily these apply; our view is that the reality is more subtle. A weaker dollar during the first nine months of 2025 is largely pinned on hedging activity. US assets may have lost some of their exceptionalism but they remain core to most global portfolios. Hedging will just put the onus on them working a little harder for investors, and a marginal shift into less crowded assets is prudent portfolio management.    Anticipated US policy rate cuts are another key pillar for investors. While the opportunity cost motive remains important, the potential consequences of lower rat...

  From ancient Egypt to Hollywood, the engagement ring embodied    Each autumn, as the season turns colder and cosier, the jewellery world enters what retailers call, engagement season – a period stretching until Valentine’s Day when proposals peak and demand for diamond rings rises.    Earlier this year, two high-profile engagements captured the public imagination and galvanised the market: Cristiano Ronaldo’s fiancée was gifted a very large brilliant-cut diamond, while Taylor Swift’s partner opted for an old mine cut. Same tradition, different expressions.    To explore both the symbolism and the substance, we sat down with historian and jewellery specialist Kathia Pinckernelle. Kathia teaches the Advanced History of Jewellery Course held at SSEF in Basel.    Already the ancient Egyptians wore amulets and rings as symbols of protection and affection. Jewellery accompanied both daily life and spiritual belief. In Greece, too, jewellery carri...