GJEPC commits to address G7 concerns regarding sanction compliance
The Hindu
A G7 delegation visited Mumbai and Surat last week to learn more about the Indian gem and jewellery industry and to explore ways of helping the industry meet G7 sanctions requirements with minimal or no disruption to the sector, the Gem & Jewellery Export Promotion Council (GJEPC) said in a statement.
A G7 delegation visited Mumbai and Surat last week to learn more about the Indian gem and jewellery industry and to explore ways of helping the industry meet G7 sanctions requirements with minimal or no disruption to the sector, the Gem & Jewellery Export Promotion Council (GJEPC) said in a statement.
The delegation comprised members from the U.S. State Department, U.S. Department of Treasury, the European Commission, the Prime Minister’s office of Belgium, the Foreign Trade Department of Belgium, and the Japan Embassy in India.
The G7 delegation met Indian trade members, represented by GJEPC and the Bharat Diamond Bourse (BDB), in Mumbai and the Surat Diamond Bourse in Gujarat.
“The G7 delegation expressed their intent to gain insights into the industry’s ground realities and identify potential approaches to sanctions compliance and implementation. In response, GJEPC reaffirmed its commitment to facilitating cooperation to address the G7’s concerns with regards to industry compliance,” GJEPC said in the statement.
“The delegates understood the ground realities of the small-scale diamond traders in India from their visit to the Mumbai Diamond Merchants’ Association (MDMA). The delegates also had a fair understanding of the Customs procedures followed during a visit to the Precious Cargo Customs Clearance Centre (PCCCC) and got valuable insights into the trading and cross-border shipment ecosystem through their interaction with Customs,” the statement added.
In Surat, the delegation visited both large, medium and micro diamond processing units and met with local SME associations, workers’ representatives and artisan union leaders to understand the trading and manufacturing processes.
“The team also had a very productive meeting with Ministry of Commerce officials on 29th September along with leaders of trade where the way forward was discussed and both sides committed to find practical solutions in future,” the statement added.
The rupee declines 14 paise to 92.42 against the dollar amid rising crude prices and foreign fund withdrawals.
Dell’s total workforce declined by about 10%, or 11,000 employees, in fiscal 2026, it said on Monday
Nvidia chief Jensen Huang on Monday said the leading artificial intelligence chip maker is heading for space with a goal of powering orbiting data centres.
Meta Platforms shares rose nearly 3% on Monday after a Reuters report that the social media giant plans to lay off 20% or more of its workforce to offset heavy spending
Wholesale price inflation hits 11-month high at 2.13%, driven by rising crude prices and increased costs across various sectors.
Kerala's wellness sector faces uncertainty due to the West Asian crisis, impacting tourism and threatening economic stability.
Experts link Punjab's distress migration to economic stagnation and job mismatches, highlighting systemic failures in political leadership.
India's merchandise exports remain flat in February, with Commerce Secretary warning of a potential dip in March due to trade constraints.
Hard Rock International closes 10 outlets in India, including three cafes in Bengaluru, while Goa hotel remains open.
The booming market for artificial intelligence servers brought Taiwan's Foxconn a 24 percent jump in annual net profit, the company said
In a statement on its website, Adobe said it has in recent years streamlined its sign-up and cancellation processes and made them more transparent.
Stock markets recover as Sensex and Nifty bounce back following a three-day slump, driven by value-buying in blue-chip stocks.
U.S. President Donald Trump’s administration is set to receive a roughly $10 billion fee from investors in the recently completed deal to take control of TikTok’s U.S. business, the Wall Street Journal reported