Latest news with #RajeshRokde
Time of India
05-06-2025
- Business
- Time of India
Silver hits new peak of Rs 1.04 lakh/kg amid global, industrial push
Silver touched a new high of Rs 1,04,675 per kg on Thursday. The precious metal crossed the Rs 1 lakh mark on June 3 and was trading at Rs 1,00,980 per kg. 'The increase in silver prices was largely expected, given gold's extraordinary performance, which set the stage for silver's growth. Despite silver being widely used in industrial applications, its price has not surged as dramatically as gold's,' Rajesh Rokde, chairman of All India Gem & Jewellery Domestic Council (GJC). Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trading CFD dengan Teknologi dan Kecepatan Lebih Baik IC Markets Mendaftar Undo Recently, reports indicate that Ukraine launched drone strikes on Russian airfields, targeting military aircraft2. In response, Russian President Vladimir Putin has stated that Moscow will retaliate. The geopolitical tension surrounding this situation could have significant implications for global markets, including precious metals like silver. 'This is a powerful threat, and it could also boost silver prices. Given the current circumstances, there is a strong expectation of a massive surge in silver prices,' Rokde said. From a fundamental perspective, the silver market remains on solid footing. The Silver Institute forecasts another supply-demand deficit in 2025, marking the fifth consecutive year of shortfall. Industrial demand, a key pillar, is projected to hit a new high, bolstered by growth in green energy sectors. Silver industrial fabrication is expected to rise by 3%, exceeding 700 million ounces for the first time. Investment demand is also projected to grow by 3%, driven by recovery in Europe and North America.
Economic Times
05-06-2025
- Business
- Economic Times
Silver hits new peak of Rs 1.04 lakh/kg amid global, industrial push
Silver touched a new high of Rs 1,04,675 per kg on Thursday. The precious metal crossed the Rs 1 lakh mark on June 3 and was trading at Rs 1,00,980 per kg. ADVERTISEMENT 'The increase in silver prices was largely expected, given gold's extraordinary performance, which set the stage for silver's growth. Despite silver being widely used in industrial applications, its price has not surged as dramatically as gold's,' Rajesh Rokde, chairman of All India Gem & Jewellery Domestic Council (GJC). Recently, reports indicate that Ukraine launched drone strikes on Russian airfields, targeting military aircraft2. In response, Russian President Vladimir Putin has stated that Moscow will retaliate. The geopolitical tension surrounding this situation could have significant implications for global markets, including precious metals like silver. 'This is a powerful threat, and it could also boost silver prices. Given the current circumstances, there is a strong expectation of a massive surge in silver prices,' Rokde a fundamental perspective, the silver market remains on solid footing. The Silver Institute forecasts another supply-demand deficit in 2025, marking the fifth consecutive year of shortfall. Industrial demand, a key pillar, is projected to hit a new high, bolstered by growth in green energy sectors. Silver industrial fabrication is expected to rise by 3%, exceeding 700 million ounces for the first time. Investment demand is also projected to grow by 3%, driven by recovery in Europe and North America. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
16-05-2025
- Business
- Time of India
Jewellers To Shun Turkish Tag, Rename Ornaments As Sindoor
Nagpur: The tag 'Turkish', given to large-sized ornaments like earrings and necklaces by jewellers due to the design's origin in Turkiye, will be dropped in India. Instead, jewellers plan to brand such designs as 'Sindoor', said chairman of Gems and Jewellery (Domestic) Council (GJC), Rajesh Rokde. The GJC is a nationwide jewellers guild. The word 'Sindoor' has been chosen in recognition of successful Operation Sindoor against terror infrastructure in Pakistan and Pakistan-occupied Kashmir following the dastardly Pahalgam terror attack. This decision comes along with the GJC's call to jewellers to halt trade with Turkey due to its support for Pakistan. The name 'Turkish' was used for a wide range of premium jewellery, as such designs originally came from Turkiye. However, imports have decreased substantially over the years as Indian jewellers have gained the expertise to make such ornaments. Despite this, the jewellery was marketed under the brand name 'Turkish', for its premium value. Now, even the name will not be used, said Rokde. The GJC has also made a call to stop all kinds of trade with Azerbaijan, which also has leanings towards Pakistan. "By halting trade, we send a clear message of unity and resolve," says a GJC note quoting Rokde. Even though jewellery imports stopped, jewellers used to procure machinery from Turkiye. Appeals have been made to boycott Turkish equipment too, said another GJC member. Nagpur: The tag 'Turkish', given to large-sized ornaments like earrings and necklaces by jewellers due to the design's origin in Turkiye, will be dropped in India. Instead, jewellers plan to brand such designs as 'Sindoor', said chairman of Gems and Jewellery (Domestic) Council (GJC), Rajesh Rokde. The GJC is a nationwide jewellers guild. The word 'Sindoor' has been chosen in recognition of successful Operation Sindoor against terror infrastructure in Pakistan and Pakistan-occupied Kashmir following the dastardly Pahalgam terror attack. This decision comes along with the GJC's call to jewellers to halt trade with Turkey due to its support for Pakistan. The name 'Turkish' was used for a wide range of premium jewellery, as such designs originally came from Turkiye. However, imports have decreased substantially over the years as Indian jewellers have gained the expertise to make such ornaments. Despite this, the jewellery was marketed under the brand name 'Turkish', for its premium value. Now, even the name will not be used, said Rokde. The GJC has also made a call to stop all kinds of trade with Azerbaijan, which also has leanings towards Pakistan. "By halting trade, we send a clear message of unity and resolve," says a GJC note quoting Rokde. Even though jewellery imports stopped, jewellers used to procure machinery from Turkiye. Appeals have been made to boycott Turkish equipment too, said another GJC member.
The Hindu
16-05-2025
- Business
- The Hindu
GJC asks jewellers to cease business transactions with Turkey, Azerbaijan
The All India Gem and Jewellery Domestic Council (GJC), the apex body representing India's domestic gem and jewellery industry, has asked industry members to cease business transactions with Turkey and Azerbaijan. 'This decisive action follows Turkey's public support for Pakistan in the aftermath of the Pahalgam terror attack, which claimed the lives of 26 Indian civilians. Such a stance has raised critical concerns regarding national security and the ethical direction of trade relationships,' GJC said in a statement. Rajesh Rokde, Chairman, GJC, said: 'The Indian gem and jewellery sector stands united in support of the nation. We call upon every jeweller, manufacturer, trader, and wholesaler to stop all transactions with Turkey and Azerbaijan.' 'By halting trade, we send a clear message of unity and resolve, reinforcing our industry's role as a pillar of national pride. Let us unite as an industry to uphold these values, showcasing our resilience and loyalty to India's honour and security,' he said. Avinash Gupta, Vice Chairman, GJC, said, 'By standing firm in our resolve to halt transactions with Turkey and Azerbaijan, we demonstrate that our commitment to the nation surpasses commercial interests.'
&w=3840&q=100)
Business Standard
16-05-2025
- Business
- Business Standard
GJC calls on gem traders to stop business with Turkiye, Azerbaijan
After Turkiye and Azerbaijan extended diplomatic support to Pakistan during Operation Sindoor, the All India Gem and Jewellery Domestic Council (GJC) on Friday urged the industry to terminate all business transactions with both nations. "The Indian gem and jewellery sector stands united in support of the nation. It is imperative that our industry sets a strong example by prioritising the country over commerce. We call upon every jeweller, manufacturer, trader, and wholesaler to stop all transactions with Turkiye and Azerbaijan," GJC chairman Rajesh Rokde said. "By halting trade, we send a clear message of unity and resolve, reinforcing our industry's role as a pillar of national pride. Let us unite as an industry to uphold these values, showcasing our resilience and loyalty to India's honour and security," he added. The jewellery body's move comes after a few other sectors, too, have voiced their opposition to doing business with Türkiye and Azerbaijan. Boycott calls by other industries Earlier this week, the All Indian Cine Workers Association (AICWA) demanded an immediate visa ban for the artists from these two countries and has urged the Indian film industry to follow the boycott as well. It also called for a boycott of Türkiye as a shooting location. Earlier in the day, the Federation of Western India Cine Workers had also called for a ban on shooting films in that country as well as on other cultural collaborations. Notably, Turkish shows on OTT platforms are quite popular in India. Tourism Several Indians planning their holiday trips to Turkey and Azerbaijan have decided to cancel their plans amid the current geopolitical situation. 'Indian travellers have expressed strong sentiments over the past one week, with bookings for Azerbaijan and Turkey decreasing by 60%, while cancellations have surged by 250% during the same period,' a spokesperson for MakeMyTrip said earlier this week. The platform added that it had pulled down all offers and promotions for both countries. 'In solidarity with our nation and out of deep respect for our armed forces, we strongly support this sentiment and advise against all non-essential travel to Azerbaijan and Turkey,' the firm said. According to data shared by EaseMyTrip, 287,000 Indians visited Turkey last year, while 243,000 travelled to Azerbaijan. Tourism is an important industry for both the nations. - Turkey: 12% of GDP, 10% of employment - Azerbaijan: 7.6% of GDP, 10% of employment Apple There have been several reports that Pune traders have called for a boycott of imports of Turkish apples and dry fruits. According to a Hindustan Times report, traders in Pune import apples, litchis, plums, cherries, and dry fruits from Turkiye. The import of apples alone is worth around ₹1,200 crore, the report added. Aviation The Bureau of Civil Aviation Security (BCAS) revoked the security clearance of the Istanbul-headquartered firm Çelebi Hava Servis citing concerns over national security. The firm provides ground handling services acorss several major airports across India. However, after BCAS revoked its security clearance, the firm's agreements and licences with Indian entities got terminated. Notably, according to Reuters, the Turkish firm has filed a plea in the Delhi HC against the BCAS order.
