The International Financial Services Centres Authority (IFSCA), the unified regulator overseeing financial activities in GIFT City, has accepted key recommendations made by the Gem & Jewellery Export Promotion Council (GJEPC), allowing holders of a valid Registration-cum-Membership Certificate (RCMC) to access bullion imports through the India International Bullion Exchange (IIBX).<\/p>\n
Under a revised circular issued on 15 June 2026, valid GJEPC RCMC holders can apply through IIBX to be notified as Qualified Jewellers and, once approved, import gold and silver through the exchange for export-related activities.<\/p>\n
The move addresses a long-standing demand from GJEPC to broaden access to the IIBX import route beyond a limited pool of entities that met the earlier Qualified Jeweller criteria. Significantly, IFSCA has incorporated the GJEPC\u2019s recommendation to remove the minimum net worth requirement for Council\u2019s RCMC holders and jewellery units operating in Special Economic Zones (SEZs) that hold a valid Letter of Approval (LoA). The change opens the door for a much larger segment of exporters to access bullion through IIBX.<\/p>\n
For the industry, the decision delivers a direct benefit to GJEPC members. Equally significant is the fact that Domestic Tariff Area (DTA) units seeking to avail themselves of the facility will need to hold a valid GJEPC membership through an RCMC. This strengthens the relevance of Council membership while ensuring that eligible exporters remain connected to the industry\u2019s apex export promotion body.<\/p>\n
The circular also permits entities holding Advance Authorisations issued by the Directorate General of Foreign Trade (DGFT) to access the IIBX import route.<\/p>\n
According to IFSCA, the amendments follow stakeholder consultations and are intended to provide easier, more transparent access to bullion while expanding the pool of exporters eligible to undertake imports through IIBX. The regulator believes the revised framework will improve accessibility and support export-oriented manufacturing within the gem and jewellery sector.<\/p>\n","protected":false},"excerpt":{"rendered":"
The International Financial Services Centres Authority (IFSCA), the unified regulator overseeing financial activities in GIFT City, has accepted key recommendations made by the Gem & Jewellery Export Promotion Council (GJEPC), allowing holders of a valid Registration-cum-Membership Certificate (RCMC) to access bullion imports through the India International Bullion Exchange (IIBX). Under a revised circular issued on…<\/p>\n","protected":false},"author":1,"featured_media":36889,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-36888","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\n