28, Oct 2026
DERMALOG Strengthens Biometric Security with Independent Face and Fingerprint PAD Validations

Independent security evaluations by Fime demonstrate DERMALOG’s advanced anti-spoofing capabilities, with its facial recognition and fingerprint technologies successfully detecting all 1,500 tested presentation attacks.

– Picture is available at AP –

HAMBURG, Germany, Oct. 28, 2026 /PRNewswire/ — DERMALOG Identification Systems has achieved another milestone in biometric security. Its facial recognition technology and TF60 fingerprint scanner have successfully completed independent Presentation Attack Detection (PAD) evaluations conducted by Fime, an internationally recognized testing and certification provider. Across both evaluations, DERMALOG’s technologies successfully detected all 1,500 tested presentation attacks.

As biometric solutions become increasingly important for digital identity, financial services, and border security, protecting systems against fraudulent authentication attempts is essential. Presentation Attack Detection helps distinguish genuine users from spoofing attempts involving photos, videos, facial masks, or artificial fingerprints.

The independent evaluations, conducted in accordance with international ISO/IEC 30107 standards, confirmed that both DERMALOG technologies meet Fime’s Level 2 requirements for Presentation Attack Detection. Both achieved an Attack Presentation Classification Error Rate (APCER) of 0.00 %. Of particular note, DERMALOG’s facial liveness detection software also achieved a Bona Fide Presentation Classification Error Rate (BPCER) of 0.00 %. This means that every tested presentation attack was detected, while all genuine user presentations were correctly classified during the facial recognition evaluation. These results highlight an exceptional combination of robust security and seamless user authentication under the evaluated test conditions.

“Trust is the foundation of every secure digital identity,” said Günther Mull, CEO of DERMALOG. “These independent results demonstrate our commitment to staying ahead of evolving fraud threats and providing customers with biometric technologies they can rely on.”

With these successful validations, DERMALOG further strengthens its position as a leading provider of biometric identification solutions, helping organizations worldwide protect digital identities while enabling secure and convenient authentication.

Press contact:

DERMALOG Identification Systems GmbH

Sven Böckler

Media Relations

info@dermalog.com

Phone: +49 (0)40 413 227 – 0

www.dermalog.com

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28, Oct 2026
Cyclone Arnab: Sulphur-Laden Cargo Ship Runs Aground Off Andhra Pradesh Coast

Antarvedi, Oct 28: A cargo vessel carrying sulphur has run aground near Antarvedi along the Andhra Pradesh coast after reportedly losing engine power and drifting off course amid severe weather conditions associated with Cyclone Arnab.

Cyclone Arnab: Sulphur-Laden Cargo Ship Runs Aground Off Andhra Pradesh Coast

 Representational Image 

According to port officials, the vessel was sailing from Visakhapatnam when its engine reportedly failed, leaving it vulnerable to strong winds and rough seas before it ran aground. Maritime authorities are monitoring the situation, and an inspection will determine the vessel’s condition and the next course of action, MMD Surveyor Dharmasastha said on Wednesday.

The incident comes as Cyclone Arnab made landfall along the Andhra Pradesh and Yanam coasts. According to the India Meteorological Department (IMD), the system crossed the coast between Bapatla and Visakhapatnam, southwest of Yanam, between 2 am and 8 am on October 28.

The cyclone brought maximum sustained winds of 125–135 kmph, with gusts reaching up to 150 kmph. By 8 am, its centre had moved completely over land, the IMD reported.

At 8:30 am, the system was positioned over coastal Andhra Pradesh, Yanam and the adjoining west-central Bay of Bengal, with areas around Narsapur, Kakinada and Machilipatnam among the locations in its vicinity.

Meanwhile, the Andhra Pradesh government has placed the state on high alert. The administration is working round the clock to protect lives and minimise damage to property, according to the Chief Minister’s Office.

Although no loss of life had been reported at the time of the report, the cyclone has already caused significant coastal disruption. Powerful waves and severe coastal erosion have damaged the Uppada coastal road near Kakinada.

The grounding of the sulphur-carrying vessel has added to concerns along the storm-hit coastline. Authorities are expected to assess the vessel’s structural condition and determine the appropriate response following a detailed inspection. The extent of any cargo leakage or environmental impact was not specified in the available report.

28, Oct 2026
Union Cabinet Approves ₹10,000 Crore Container Manufacturing Promotion Scheme

New Delhi, Oct 28: The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the ₹10,000 crore Container Manufacturing Promotion Scheme (CMPS) to establish a globally competitive container manufacturing ecosystem in India, reduce dependence on imports and strengthen the country’s supply-chain resilience.

Union Cabinet Approves ₹10,000 Crore Container Manufacturing Promotion Scheme

 Representational Image 

The scheme will remain in operation until the financial year 2039–40 and aims to expand domestic manufacturing capacity by supporting new manufacturing facilities as well as the expansion of existing units. The initiative was announced in the Union Budget 2026–27.

Key Components of the Scheme

The scheme comprises three major components designed to strengthen domestic manufacturing and improve the global competitiveness of Indian-made shipping containers.

Interest Subvention Assistance — ₹859 crore: Eligible container manufacturers will receive interest subvention of 3% per annum on qualifying term loans for establishing greenfield manufacturing facilities and expanding existing production capacities.

Operational Expenditure Assistance — ₹8,891 crore: Financial assistance will be provided for eligible containers manufactured in accordance with global shipping standards and sold by approved manufacturers. The support is intended to bridge the cost gap and improve the competitiveness of domestically produced containers.

Testing and Certification Assistance — ₹150 crore: The scheme will support the establishment of common testing and certification facilities, including facilities for dynamic longitudinal impact testing, to strengthen product quality and compliance with international standards.

Domestic Capacity to Expand Tenfold

The scheme envisages increasing India’s annual container manufacturing capacity by approximately tenfold, reaching 7.5 lakh TEUs (Twenty-foot Equivalent Units).

The expansion is expected to help develop an internationally competitive manufacturing base, enhance domestic production capabilities and create opportunities for India to emerge as a global export hub for quality shipping containers.

By encouraging investment in manufacturing infrastructure, improving cost competitiveness and strengthening testing facilities, the initiative seeks to reduce import dependence and make India’s container manufacturing industry more resilient to global supply-chain disruptions.

The scheme marks a significant step towards strengthening India’s industrial ecosystem and supporting its long-term ambitions in manufacturing and international trade.

28, Oct 2026
SBI Life Insurance registers New Business Premium of ₹20,259 crores for the period ended on 30th September 2026

MUMBAI, India, Oct. 28, 2026 /PRNewswire/ — SBI Life Insurance, one of the leading life insurers in the country registered a New Business Premium of ₹20,259 crores for the period ended on 30th September 2026 vis-a-vis ₹18,349 crores for the period ended 30th September 2025. Regular premium has increased by 21% over the period ended on 30th September 2025.

SBI Life New Logo

Establishing a clear focus on protection, SBI Life’s protection new business premium stood at ₹3,235 crores for the period ended 30th September 2026, marking a growth of 46%. Protection Individual new business premium registered a growth of 20% and stood at ₹446 crores for the period ended 30th September 2026. Individual New Business Premium stands at ₹13,732 crores with 13% growth over the period ended on 30th September 2025.

SBI Life’s profit after tax stands at ₹1,274 crores for the period ended 30th September 2026 with a growth of 17% over the period ended on 30th September 2025.

The company’s solvency ratio continues to remain robust at 1.97 as on 30th September 2026 as against the regulatory requirement of 1.50.

SBI Life’s AUM also continued to grow at 9% to ₹5,27,120 crores as on 30th September 2026 from ₹4,81,465 crores as on 30th September 2025, with the debt-equity mix of 60:40. 94% of the debt investments are in AAA and Sovereign instruments.

The company has a diversified distribution network of 3,94,574 trained insurance professionals and wide presence with 1,244 offices across the country, comprising of strong bancassurance channel, agency channel and others comprising of corporate agents, brokers, Point of sale persons (POS), insurance marketing firms, web aggregators and direct business.

Performance for the period ended September 30, 2026

  • Private Market leadership in Individual New Business Premium and Individual Rated Premium with market share of 25.2% & 22.6% respectively.
  • Annualized Premium Equivalent (APE) stands at ₹11,746 crores with growth of 18%
  • Total New Business Sum Assured stands at ₹11,92,792 crores with 68% growth
  • Improvement in 13M, 25M & 49M persistency by 44 bps, 110 bps & 40 bps respectively
  • Value of New Business (VoNB) stands at ₹3,274 crores with growth of 19%
  • VoNB Margin stands at 27.9%
  • Indian Embedded value (IEV) stands at ₹87,349 crores with 15% growth
  • Profit After Tax (PAT) stands at ₹1,274 crores with 17% growth
  • Robust Solvency ratio of 1.97
  • Assets under Management stands at ₹5,27,120 crores with 9% growth
  • Operating Return on Embedded Value stands at 18.8%

Disclaimer

Except for the historical information contained herein, statements in this release which contain words or phrases such as ‘will’, ‘expected to’, etc., and similar expressions or variations of such expressions may constitute ‘forward-looking statements’. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results, opportunities and growth potential to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the actual growth in demand for insurance and other financial products and services in the countries that we operate or where a material number of our customers reside, our ability to successfully implement our strategy, including our use of the Internet and other technology our exploration of merger and acquisition opportunities, our ability to integrate mergers or acquisitions into our operations and manage the risks associated with such acquisitions to achieve our strategic and financial objectives, our growth and expansion in domestic and overseas markets, technological changes, our ability to market new products, the outcome of any legal, tax or regulatory proceedings in India and in other jurisdictions we are or become a party to, the future impact of new accounting standards, our ability to implement our dividend policy, the impact of changes in insurance regulations and other regulatory changes in India and other jurisdictions on us. SBI Life Insurance Company Limited undertakes no obligation to update forward looking statements to reflect events or circumstances after the date thereof.

This release does not constitute an offer of securities.

 

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28, Oct 2026
HomeFirst Q2 FY27 PAT Surges 29% to ₹170 Cr; AUM Up 27% to ₹18,010 Cr on Highest-Ever Disbursements

MUMBAI, India, Oct. 28, 2026 /PRNewswire/ — Home First Finance Company India Limited (HomeFirst) reported Profit After Tax of ₹170 Cr for Q2 FY27, up 29.1% year-on-year and 6.5% quarter-on-quarter, outpacing AUM growth of 27.0%.

Q2 FY27 highlights

  • AUM: ₹18,010 Cr, up 27.0% y-o-y and 6.3% q-o-q; housing loans form 84% of AUM
  • Disbursements: ₹1,705 Cr, up 32.2% y-o-y and 4.7% q-o-q
  • Total Income: ₹567 Cr (+18.4% y-o-y); Net Total Income: ₹343 Cr (+23.9% y-o-y)
  • PPOP: ₹238 Cr, up 26.1% y-o-y
  • ROA: 4.2%; ROE: 14.9% (+150 bps y-o-y); cost-to-income ratio: 30.8% vs 32.7% in Q1
  • Gross Stage 3: 1.7% (-10 bps q-o-q); credit cost: 40 bps; 1+ DPD: 4.7%; 30+ DPD: 3.2%
  • Spread (ex-co-lending): 5.2%; cost of borrowings: 7.8%, flat q-o-q
  • CRAR: 39.8%; Networth: ₹4,665 Cr; liquidity buffer: ₹2,666 Cr

Commenting on the performance, Mr. Manoj Viswanathan, MD & CEO, HomeFirst, said: “HomeFirst delivered a strong operating performance in Q2 FY27, sustaining healthy business momentum alongside profitability and stable asset quality. The quarter was marked by highest ever disbursements, continued expansion of our distribution franchise and disciplined execution across our markets.

Asset quality remained stable, reflecting our continued emphasis on prudent underwriting and proactive collections.

Our Green Homes initiative also progressed during the quarter, with an additional 100 homes certified, taking the cumulative total to 650 as of September 2026. Through this initiative, we continue to promote environmentally responsible housing practices and progressively integrate sustainability considerations into our core business activities.

Our priorities for the remainder of FY27 are clear: sustain growth momentum, preserve portfolio quality, protect profitability and improve operating efficiency. As our franchise continues to scale, our emphasis remains on converting business growth into consistent earnings, healthy returns and long-term shareholder value.”

During the quarter, HomeFirst added six branches, taking its network to 181 branches across 13 States / UT and 379 touchpoints, with 2,014 employees. Its Green Homes initiative certified 100 more homes, taking the cumulative total to 650. HomeFirst also won the ‘ESG & Financial Inclusion’ award in the NBFC category at ASSOCHAM’s 21st Annual Summit & Awards.

About Home First Finance Company India Limited

HomeFirst is a technology driven affordable housing finance company that targets first time home buyers in low and middle-income groups, primarily offering housing loans for the purchase or construction of homes.

 

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28, Oct 2026
Xinhua Silk Road: Going global-themed event for firms in Yellow River basin held in Jinan, E China

BEIJING, Oct. 28, 2026 /PRNewswire/ — A conference on enterprises going global in the Yellow River basin was held in Jinan City, capital of east China’s Shandong Province, on Tuesday.

The photo shows the site of the Yellow River Basin Enterprise Going Global and Comprehensive Services Exchange and Matchmaking Conference held in Jinan City, capital of east China's Shandong Province, October 27, 2026.

The conference aimed to implement the Belt and Road Initiative (BRI) through high-quality cooperation and promote resource matching for enterprises in the Yellow River basin.

During the conference, the Department of Commerce of Shandong Province released three major outcomes, including a list of cooperation demand of enterprises in such fields as foreign labor service, outward investment, and construction machinery, a catalogue of services for enterprises going global, and investment cooperation reports on Indonesia, Thailand, Uzbekistan and Hungary.

The conference also saw the launch ceremony for the official operation of the Shandong Global Business Service Hub and the unveiling ceremony for the Yellow River Basin Enterprise Maritime Service Window.

It is reported that during its trial operation, the Shandong Global Business Service Hub has already served more than 700 enterprises from Shandong and other regions. The Yellow River Basin Enterprise Maritime Service Window has been set up in Jinan, Qingdao and Yantai, providing targeted shipping services for customers in the green petrochemical industry and others.

In the experience-sharing session, Pan Haiping, chairman of China Economic Information Service (CEIS), and Shu Hai, vice president of Haier Group, delivered keynote speeches. They shared their practices in supporting high-quality overseas business expansion and promoting global brand building.

During the signing ceremony, enterprises from the Yellow River basin inked 17 cooperation agreements with professional overseas service providers, covering foreign-related legal services, financial leasing, overseas engineering projects, industrial investment and global business collaboration.

Participants noted that Chinese enterprises’ outbound investment has kept expanding, driving robust market demand for high-quality, professional global business services. Shandong boasts strong opening-up momentum and has consistently pioneered integrated development of trade and investment. The Shandong Global Business Service Hub has laid a solid service foundation for enterprises to pursue high-quality global expansion.

The conference was hosted by the Department of Commerce of Shandong Province and co-organized by CEIS and the China Council for International Investment Promotion (CCIIP).

Original link: https://en.imsilkroad.com/p/352704.html

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28, Oct 2026
Sinopec Releases Africa Sustainability Report and Launches WE17 Global Communication Brand in Cairo

CAIRO, Oct. 28, 2026 /PRNewswire/ — China Petroleum & Chemical Corporation (HKG: 0386, “Sinopec” or “the Company”) released Sinopec’s Sustainability Report in Africa (2021-2025) in Cairo on October 25 which highlights five years of progress in energy cooperation, environmental protection, community development, and cultural exchange. The Company also introduced its global sustainability communication brand, WE17. The report shows that Sinopec implemented 33 projects across 16 African countries between 2021 and 2025, with cumulative investment exceeding US$5.7 billion and total tax payments and social responsibility contributions surpassing US$4 billion over the same period. In 2025, its operations directly created 16,000 local jobs.

Zhao Liuqing, Minister Counselor for Economic and Commercial Affairs at the Chinese Embassy in Egypt, addressed the event and noted that 2026 marks the 70th anniversary of diplomatic relations between China and Egypt and of the establishment of diplomatic relations between China and African countries. Mr. Zhao described Sinopec’s activities in Egypt as an example of the China-Egypt comprehensive strategic partnership and a contribution to stronger people-to-people ties. Magdy Amer, board member of the Egypt-China Friendship Association and former Egyptian ambassador to China, also delivered remarks recognizing Sinopec’s contributions to economic and social development.

Wei Dong, Managing Director of Sinopec Africa Office, presented the report and reaffirmed the Company’s commitment to leveraging its integrated industrial capabilities, increasing investment in quality resources, and balancing economic performance with ecological protection and community well-being. He also emphasized Sinopec’s continued participation in Africa’s industrialization and public service development.

Sinopec expands energy cooperation and environmental protection

The sustainability report documents Sinopec’s activities in oil and gas exploration, engineering services, refining, energy trade, and renewable energy. Sinopec is exploring wind and solar alternatives for oilfield operations in the Western Desert of Egypt through its partnership with Apache Corporation. At the Sinopec-Apache project in Egypt, gas flaring had been reduced by more than 60% by the end of 2025 through energy efficiency and gas recovery measures.

Additionally, Sinopec participates in five offshore exploration and development blocks in Angola and maintains long-term energy cooperation with Algeria. Its renewable energy activities include Ethiopia’s Adama Wind Power Project, which meets approximately 20% of the capital’s electricity demand, and a geothermal pipeline project that supports clean electricity generation in Kenya. Environmental initiatives include planting over 7,000 mangroves in Angola and deploying ultra-low-noise intelligent drilling rigs in Uganda which have reduced carbon emissions by more than 90% compared with conventional rigs.

Continued investment in communities and cultural exchange

Sinopec’s community programs focus on employment, vocational training, education, healthcare, and infrastructure. A welding training initiative in Uganda has equipped 60 local workers with internationally recognized certifications. Across Africa, the Company has helped with the construction of more than 70 water supply plants and installation of over 4,300 kilometers of water pipelines.

In Egypt, an education-assistance initiative has supported the construction of 201 girls’ schools, providing educational opportunities for over 15,000 students. Cultural exchange programs include the “Silk Road Book House – China Bookshelf” initiative in Egypt, Algeria, and Cameroon, as well as cultural exchange activities for young people.

Sinopec launches WE17

The event also saw the introduction of Sinopec’s global sustainability communication brand, WE17, under the slogan “Together for Better.” It is aligned with the United Nations’ 17 Sustainable Development Goals and focuses on the three themes of Clean, which represents environmental responsibility, Care, which emphasizes community well-being, and Culture, which promotes cross-cultural exchange.

Approximately 100 representatives from government, business, academia, and the media attended the event.

For more information, visit SINOPEC’s official website.

Sinopec Releases Africa Sustainability Report and Launches WE17 Global Communication Brand in Cairo

 

Logo

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28, Oct 2026
CELSET Launches SOLTOX, a Korean Botulinum Toxin Type A Brand, for International Markets

SEOUL, South Korea, Oct. 28, 2026 /PRNewswire/ — CELSET INC., a Korean biotechnology company specializing in medical aesthetics, has launched SOLTOX, its botulinum toxin type A brand, introducing a Korean botulinum toxin brand to the international medical aesthetics industry.

 Soltox Botulinum Toxin Type A Brand package

SOLTOX is presented in 100 Unit and 200 Unit formulations with three defining technical characteristics: a 900 kDa toxin complex, a freeze dried dosage form, and an advanced purification process. Together, these attributes reflect a manufacturing approach emphasizing controlled processing, product characterization, and pharmaceutical quality.

The 900 kDa complex describes the molecular size of the botulinum toxin protein complex, including associated proteins. This characteristic identifies a specific formulation feature rather than establishing any claim of superior clinical duration or efficacy. SOLTOX is supplied as a lyophilized powder intended for reconstitution before administration by qualified medical professionals, in accordance with applicable product labeling and local requirements.

Purification forms another central element of the SOLTOX manufacturing approach. Advanced Botulinum Toxin Purification Technology is applied during the processing of botulinum toxin type A, with emphasis on separating the desired substance from unwanted materials. Production also involves controlled manufacturing conditions and botulinum toxin quality control procedures covering preparation, filling, freeze drying, and batch assessment.

CELSET highlights these manufacturing characteristics as the technical foundation of SOLTOX. Its product positioning draws attention to formulation identity and process controls without equating manufacturing characteristics with unverified differences in patient outcomes. The brand combines technical information with a concise identity designed for recognition throughout the medical aesthetics sector.

The launch establishes SOLTOX within CELSET’s international medical aesthetics activities. Its positioning reflects the growing visibility of Korean biotechnology and medical aesthetics manufacturing, alongside the importance of established medical channels and market specific regulatory frameworks. CELSET views country level market development and professional relationships as integral to the international presence of the SOLTOX brand.

SOLTOX’s introduction broadens CELSET’s medical aesthetics portfolio, complementing its focus on scientifically grounded product communication. The company emphasizes a consistent brand presentation and clear information for healthcare professionals across different markets. Availability and use are governed by the regulatory requirements applicable in each country.

About CELSET INC.

Based in Seoul, South Korea, CELSET INC. is a Korean biotechnology company focused on the medical aesthetics sector. SOLTOX reflects the company’s commitment to distinctive brands, aesthetic medicine manufacturing principles, and professional communication for the global aesthetics industry.

For inquiries: contact@celset.co.kr

Home Page : https://celset-aesthetics.com/

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28, Oct 2026
Ozelle to Spotlight Scalable AI-Assisted Hematology with O-Cyte 1 at MEDICA 2026

O-Cyte 1 combines CBC testing and reviewable cell images with expandable throughput and service-ready design.

DÜSSELDORF, Germany, Oct. 28, 2026 /PRNewswire/ — As AI-assisted morphology becomes more integrated into routine hematology, laboratories need more than automated cell classification. Cell images must be available for professional review, while analyzers must also meet daily testing and maintenance requirements. At MEDICA 2026, Ozelle will spotlight O-Cyte 1, an automated hematology analyzer combining AI × CBM (Complete Blood Morphology) with scalable throughput and service-ready engineering.

Ozelle to Spotlight Scalable AI-Assisted Hematology with O-Cyte 1 at MEDICA 2026

The International Council for Standardization in Haematology (ICSH) approved a new digital morphology standardization project at its October 14–15 General Assembly. The initiative highlights the importance of verification, reproducibility and quality assurance in digital morphology.

O-Cyte 1 performs CBC testing with 7-part white blood cell differentiation, integrating high-resolution cell imaging and AI-assisted classification within the same analyzer. Cell images are linked to numerical results, allowing laboratory professionals to examine visual evidence when needed. This approach reflects Ozelle’s vision for the fourth generation of hematology analysis: making morphology intelligence more consistent, reviewable and scalable across routine hematology workflows.

To support everyday laboratory operation, O-Cyte 1 is designed for changing workloads and routine service needs. A standalone analyzer delivers up to 60 tests per hour, while a six-unit cascade reaches up to 360 tests per hour. Its integrated reagent kit and key fluid-contact components housed in consumables help simplify reagent handling and reduce routine maintenance. Built-in self-checks and replaceable modules support easier fault identification and servicing.

For IVD distributors, scalable configurations help serve laboratories with different testing volumes and provide a path for future capacity expansion. Simplified reagent management and modular design can also ease ongoing technical support and after-sales service.

At MEDICA, Ozelle will also feature EHBT-75, combining 7-diff hematology with cell imaging and morphology analysis, and EHBT-50, integrating hematology, immunoassay and dry biochemistry in a compact platform. Visitors can also explore Open Dx, Ozelle’s AI Workbench for AI-assisted report review and result sharing.

Meet Ozelle at MEDICA 2026, November 16–19, Hall 1, Booth D63, Messe Düsseldorf, to explore the systems firsthand and discuss distribution opportunities.

About Ozelle

Founded in Silicon Valley in 2014, Ozelle develops AI-powered hematology and integrated diagnostic systems for human and veterinary care. Its technology combines cell imaging and intelligent analysis in instruments designed for everyday clinical use.

www.ozellemed.com

info@ozellepoct.com

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28, Oct 2026
Gold Prices May Decline Further as Indian Jewellers Hold Back Purchases; Check Bhubaneswar Rates Today

Bhubaneswar, Oct 28: Gold prices could face further pressure as Indian jewellers reportedly delay fresh purchases, hoping for a more favourable buying opportunity following the recent decline in international bullion prices. The cautious approach comes ahead of the festive season, when demand for gold jewellery typically gains momentum across the country.

Gold Prices May Decline Further as Indian Jewellers Hold Back Purchases; Check Bhubaneswar Rates Today

According to a report citing MMTC-PAMP India, large jewellery chains have yet to return fully to the market, while buying activity has been driven mainly by small and medium-sized jewellers.

Samit Guha, chief executive officer and managing director of MMTC-PAMP, said some smaller jewellers had placed repeat orders, indicating that buying activity continues in parts of the market despite the overall cautious sentiment.

Why Are Jewellers Waiting to Buy Gold?

Jewellers’ purchasing decisions are being influenced by recent price movements and expectations that bullion could become cheaper.

When gold prices fluctuate sharply, retailers may postpone replenishing their inventories to avoid buying at elevated levels. If prices subsequently decline, jewellers may be able to purchase gold at lower rates. However, a further fall is not guaranteed, and any rebound in international prices could change buying strategies.

The hesitation among major jewellery chains suggests that some retailers are waiting for greater clarity on price trends before committing to substantial purchases.

Global Gold Prices Under Pressure

International gold prices have experienced a significant correction after reaching record levels earlier in the year. The decline has prompted market participants to reassess their buying strategies amid changing economic and geopolitical conditions.

Gold prices in India are influenced by several factors, including international bullion rates, the rupee-dollar exchange rate, import duties and domestic demand. Consequently, a fall in global prices does not always translate into an equivalent reduction in local retail rates.

Investors and jewellery buyers will also be watching movements in the US dollar, interest-rate expectations and geopolitical developments, all of which can influence gold’s appeal as a safe-haven asset.

Higher Import Duty Adds to Demand Concerns

India’s gold market is also sensitive to government policies because the country imports most of the gold it consumes.

The report attributes some of the weakness in demand to a reported increase in import duty earlier this year. Higher import costs can raise domestic prices and affect purchasing decisions among both jewellers and consumers.

Prime Minister Narendra Modi has also urged Indians to moderate gold purchases as part of efforts to address the country’s widening trade deficit.

The combined impact of import costs, price volatility and cautious retail buying could influence jewellery demand during the festive season.

Gold Rate in Bhubaneswar Today

Gold buyers in Odisha are closely watching retail prices as the festive shopping period approaches.

According to the rates provided in the source report, the indicative gold prices in Bhubaneswar on October 28 are:

Gold purity

Price per gram

24-carat gold

₹14,395

22-carat gold

₹13,195

18-carat gold

₹10,796

Note: These rates are reproduced from the supplied report and have not been independently verified. Buyers should check the latest rates with local jewellers before making a purchase.

The final price of jewellery may be higher because of making charges, applicable GST and other shop-specific charges. Prices may also vary between jewellers and according to the type of jewellery purchased.

Will Gold Become Cheaper Before Diwali?

The possibility of further price declines could encourage some buyers to wait before making major purchases. However, the market outlook remains uncertain, and there is no guarantee that gold prices will continue to fall.

For consumers planning festive purchases, tracking daily rates and comparing prices across established jewellers may help them make more informed decisions.

For the jewellery industry, the key question is whether the recent price correction will encourage renewed buying or whether customers and retailers will continue to wait for further declines.

With festive demand, global bullion movements and domestic import costs all influencing the market, gold prices are likely to remain an important focus for Indian buyers in the coming days.

Disclaimer: Gold prices are subject to market fluctuations. The rates mentioned above should be verified locally and are provided for informational purposes only.