GJEPC, IFSCA and IIBX Organise Webinar on Gold and Silver Procurement Framework for Exporters
GJEPC, in association with the International Financial Services Centres Authority (IFSCA) and India International Bullion Exchange (IIBX), hosted a webinar on 19 June to familiarise exporters with the recently liberalised framework that allows GJEPC Registration-cum-Membership Certificate (RCMC) holders to procure gold and silver directly through IIBX for export manufacturing. The session witnessed participation from over 200 members of the industry.
In his special address, Shri Ramakrishnan Padmanabhan, General Manager, IFSCA, highlighted the authority’s initiatives to expand access to bullion imports and further strengthen India’s bullion ecosystem.
Moderating the webinar, Shri Sabyasachi Ray, Executive Director, GJEPC, spoke about the Council’s continuous efforts with IFSCA to facilitate this important reform. He emphasised that the new mechanism is expected to enhance access to precious metals for export manufacturing and significantly benefit exporters, especially MSMEs.
The technical presentation was delivered by Shri Ashok Kumar Gautam, Managing Director and CEO, IIBX. Representatives from IFSCA and IIBX explained the operational structure of the exchange, including onboarding requirements, trading and settlement processes, depository services, vaulting facilities and customs procedures. Attendees were informed that eligible GJEPC RCMC holders can import gold and silver duty-free for export purposes under the applicable customs regulations.
Shri K.K. Duggal, Senior Director – Policy, GJEPC, underlined the importance of the recent regulatory amendment that grants all GJEPC RCMC holders the status of Qualified Jewellers on the IIBX platform.
The webinar concluded with an interactive Q&A session, where officials from GJEPC, IFSCA and IIBX addressed participants’ queries. Exporters were encouraged to register as Qualified Jewellers and take advantage of the IIBX platform for transparent, efficient and globally competitive bullion sourcing.