India’s G&J sector welcomes RBI’s 25 bps Repo Rate Cut; GJC says move will boost growth

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.

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.