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.

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