A seminar concerning the importation of gold and silver via IIBX took place in Kolkata, aimed at informing qualified jewellers and Tariff Rate Quota holders, featuring presentations from IIBX, SBI, and Brinks. The event underscored the advantages of importing precious metals through IIBX, including reduced customs duties on these metals. This initiative is anticipated to enhance the growth of the jewellery sector in Eastern India. The World Gold Council served as the knowledge partner for this unprecedented initiative in East India, while the India International Bullion Exchange (IIBX), in concert with the State Bank of India (SBI) and Brinks, organized this educational seminar regarding the import of gold and silver through IIBX.
Ashok Gautam, FRM, MD & CEO of IIBX, offered a thorough overview of the complete IIBX framework. He stressed the benefits of importing gold and silver via IIBX and pointed out the hedging options available for these metals through the Futures Contracts provided by IIBX. Bipin Panchal and Sarath S Pillai from the Business Development team delivered a presentation about the advantages of the Tariff Rate Quota under the Comprehensive Economic Partnership Agreement and guided attendees on how to file TRQ applications with the DGFT, following the latest trade notice distributed on February 12. TRQ applicants were urged to commence their applications at IIBX for the fiscal year 25-26 using the newly introduced Pre-TRQ Allotment Window, aimed at facilitating swift onboarding as recognized India TRQ holders.
The seminar took place on February 27, 2025, supported by significant jewellery associations and attended by key players from the industry.
The event garnered substantial backing from important jewellery associations, such as IBJA, GJC, GJEPC, Swarna Shilpa Bachao Samity, Calcutta Gems and Jewellers Welfare Association, Burrabazar Bullion Gems and Jewellers Welfare Association, Howrah Jewellery Traders Association, Ankurhati Jewellery Manufacturers Welfare Association, and Kalikata Byabasai Samity
Samar De, Pramod Dugar, Ashok Bengani, Sunil Poddar, Sandeep Gupta, Pankaj Parekh, Mr Alok Addya, Abhijeet Dhar represented their Association respectively.Prominent industry leaders, including Hasmukh Parekh (H.P. Jewellers), Suvro Chandra (P.C. Chandra), and Suvankar Sen (Senco Gold and Diamonds), Mr Yogesh Soni (Punam Chand Jewellers), Amit Soni ( KIK Jewellers), Rahul Dewal ( Jagdamba Jewellers ) graced the event with their presence. Major Bullion Dealers of East Indis Umesh Kumar Soni ( Kartikey Bullion), Harshad Ajmera ( JJ Gold House ), Santosh Poddar ( Anjani Gold Pvt Itd ) promoted the event with open heart for the benefit of East India Jewellery Market.
Burrabazar Bullion Gems and Jewellers Welfare Association members, Vishal Soni (G.M. Jewellers) and Manoj Soni (ACPL), coordinated the event. The association’s executive committee members, including Suken Das (Treasurer), Navin Soni (Joint Treasurer), Rupesh Tosawar, and Yogesh Banka, played a key role in organizing the seminar.
The seminar marked a significant milestone in promoting the growth of the jewellery industry in Eastern India, and its success is expected to pave the way for future initiatives and unity among associations to work together for the East India Jewellery Industry.