GJEPC organised a seminar in New Delhi to familiarise Registration-cum-Membership Certificate (RCMC) holder members with the latest policy changes that now allow them to directly procure gold and silver through the India International Bullion Exchange (IIBX). The event drew 47 participants, reflecting growing industry interest in the new direct bullion procurement mechanism.
The technical session was led by Ranjit Singh, Head – Business & Product Development, IIBX, who explained the exchange’s operating framework, trading mechanism, eligibility criteria and regulations governing the procurement of gold and silver in different denominations. Mukesh Sharma, Assistant Vice President, IIBX, demonstrated the registration process and explained how GJEPC members can apply and participate on the platform.
Addressing the gathering, Antarpal Singh Sawhney, Regional Chairman – North, GJEPC, urged members to take full advantage of the new framework, saying it would improve access to precious metals while enhancing transparency and operational flexibility for the industry.
Providing industry context, K.K. Duggal, Director – Trade & Policy, GJEPC, outlined the various channels available for precious metal imports and highlighted GJEPC’s sustained engagement with the Ministry of Commerce & Industry to improve bullion availability for exporters and retailers. He noted that these efforts culminated in the policy decision allowing GJEPC RCMC holders to procure bullion through IIBX.
Ashutosh Srivastava, Regional Director – Delhi, GJEPC, urged members to make use of the new facility to strengthen sourcing and improve competitiveness. He said the government’s decision marks a significant step in improving bullion access for the trade.
A key takeaway from the seminar was the confirmation that GJEPC RCMC holders are now recognised as Qualified Jewellers, enabling them to directly participate and bid on the IIBX platform for gold and silver imports. Participants were also informed that the earlier minimum net worth requirement of ₹15 crore has been removed, significantly widening access to direct bullion imports for eligible GJEPC members.
The policy changes generated strong interest among attendees, who welcomed the expanded access to bullion procurement. Speakers also highlighted export opportunities available through GJEPC initiatives and encouraged retailers to explore international markets using their Council membership.
The seminar concluded with an interactive Q&A session featuring Sawhney and Regional Sub-Committee members Ashok Seth, Nitin Jain and Akhil Jain. The IIBX team addressed queries on registration, procurement procedures, compliance requirements and platform operations.