The All India Gem & Jewellery Domestic Council (GJC) inaugurated its new office at Trust House, Parel East, Mumbai, on May 14, 2026, while reiterating industry support for the Government’s recent economic measures and presenting recommendations for a revitalized Gold Monetisation Scheme (GMS). GJC, which represents over six lakh jewellers across India, stated that the new office reflects the organization’s institutional growth and its continued focus on strengthening industry representation and stakeholder engagement.

The inauguration ceremony was attended by Ajay Sancheti, Pankaj Bhoyar, Chitra Wagh, GJC Chairman Rajesh Rokde, Vice Chairman Avinash Gupta, and members of the Committee of Administration. On May 13, GJC also convened a nationwide virtual meeting attended by current and former office bearers, trade associations, zonal committee members, and jewellers from across India to discuss recent customs duty revisions on gold and silver, macroeconomic concerns, and industry participation in supporting national economic priorities.

During the discussions, GJC acknowledged the Government’s concerns regarding Current Account Deficit (CAD), foreign exchange management, and global economic uncertainty. The council stated that recent customs duty revisions had increased landing costs for gold and silver, affecting market dynamics and consumer purchasing behaviour.

The industry body also recommended encouraging value-added jewellery purchases, strengthening old gold exchange mechanisms, discouraging the sale of pure gold bars to end consumers, and increasing the circulation of idle household gold within the formal economy.

Rajesh Rokde, Chairman, GJC, said, “GJC has urged its members to discourage the selling pure gold bars to end customers and promote jewellery sales by strengthening old gold exchange mechanisms, and support measures that help reduce pressure on imports and Current Account Deficit (CAD).”

Avinash Gupta, Vice Chairman, GJC, said the council had submitted a “structured roadmap for a revitalised Gold Monetisation Scheme (GMS)” aimed at mobilising idle household gold, reducing import dependence, and supporting formalisation within the sector.