GJC welcomes RBI repo rate cut, says move will boost liquidity and jewellery trade growth | Representational Image
Mumbai, Dec 05: The All India Gem and Jewellery Domestic Council (GJC) welcomed the Reserve Bank of India (RBI)’s announcement of a 25 basis point cut in the key repo rate. This progressive and timely measure reflects the Prime Minister and the Finance Minister’s commitment to strengthening India’s economic environment, the council said.
The repo rate is the interest rate at which commercial banks borrow money from the RBI by pledging government securities. GJC said that the gem and jewellery sector, a vital contributor to employment and exports, will benefit significantly from this reduction in interest rates. Lower borrowing costs and improved liquidity will ease financial pressures, enhance business confidence, and support growth across the trade, the organisation said.
Industry leaders say move will boost demand & confidence
Rajesh Rokde, chairman of GJC, said that the repo rate cut will help the trade stabilise, sustain and grow in the coming months. “It is a welcome relief for our industry and will encourage investment, strengthen retail demand, and create a more conducive environment for expansion,” said Rokde.
Avinash Gupta, vice chairman of GJC, said that the decision demonstrates the government’s proactive approach to nurturing economic growth. “By easing financial pressures, the RBI has created an enabling environment for businesses in the gem and jewellery sector to flourish. We urge all our fellow members nationwide to take note of this positive development and utilise the benefit effectively, especially small and medium enterprises that form the backbone of our industry,” said Gupta.
Positive ripple effect expected across value chain
The GJC said that the move will have a cascading positive impact across allied industries, empowering artisans, manufacturers, wholesalers and retailers. With improved liquidity, jewellers will be better positioned to meet consumer demand during the upcoming festive and wedding seasons, further contributing to India’s economic momentum, said GJC, adding that the measure will strengthen the sector’s resilience and long-term growth, reinforcing India’s position as a global leader in gems and jewellery.
All India Gem and Jewellery Domestic Council is a national trade council established with the objective to address the industry, its functioning, and to promote its growth, while protecting the industry’s interests. A self-regulated trade body, GJC, since the last 20 years, has been serving as a bridge between the government and the trade as well as undertaking various initiatives on behalf of and for the industry.
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For further information, please feel free to contact All India Gem and Jewellery Domestic Council (GJC): Poonam Singh: 90044 30113
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