GJ Town India

    Delivered organic revenue growth of 6% despite the turbulent!    In Q3 2025, Pandora delivered organic revenue growth of 6% despite the turbulent macroeconomic backdrop. The organic growth comprised of like-for-like (LFL) growth of 2% and network expansion etc. of 4%.  LFL growth in the US and Rest of Pandora remained robust at 6%. Overall LFL growth in Europe was    -1% with the four European markets disclosed separately weighing on growth and offsetting the solid growth in several other countries, such as Spain, Portugal and Poland.    The gross margin remained strong at 79.3% despite 280bp of headwinds from foreign exchange, commodities and tariffs (80.1% in Q3 2024). The Q3 2025 EBIT margin landed at 14.0% as expected. The margin declined by 210bp Y/Y reflecting a significant 380bp headwind from foreign exchange, commodities and tariffs. Reported EPS growth in Q3 2025 was -14% (+5% in constant currency), in line with expectations...

  Urged to PM to prepare White Paper on Gems & Jewellery Sector   Kirit Bhansali, Chairman, Gem & Jewellery Export Promotion Council (GJEPC), was invited to attend the meeting organised with selected representatives of various industry sectors that contribute majorly to India’s merchandise exports chaired by Hon’ble Prime Minister Shri Narendra Modi at New Delhi, on 3rd November 2025. Kirit Bhansali was representing the Gems & Jewellery sector that contributes 7% to India’s Merchandise Exports.    The meeting was convened to seek inputs from leading export sectors on measures to strengthen India’s competitiveness in global trade. Utilizing the opportunity to speak at the occasion, Bhansali presented key Policy Reforms on behalf of the gems and jewellery sector, which contributes US$30 billion in exports, US$85 billion in domestic sales, and provides direct employment to over 42 lakh people across India.    He thanked the Hon’ble Prim...

  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...