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A Surging Rupee Tripled Gold’s Global Loss in India as Silver Broke Down
Macro Snapshot: The Reserve Bank of India changed the domestic arithmetic before trading opened on 12 October. On 10 October it announced a special window to meet the entire daily dollar requirement of Indian Oil, Bharat Petroleum and Hindustan Petroleum directly from its reserves, taking a large block of import demand out of the spot market. The central bank also tightened rupee derivative rules, imposing a 20% Foreign Exchange Risk Reserve on eligible contracts above $2 million and barring the
A Surging Rupee Tripled Gold’s Global Loss in India as Silver Broke Down
Macro Snapshot: The Reserve Bank of India changed the domestic arithmetic before trading opened on 12 October. On 10 October it announced a special window to meet the entire daily dollar requirement of Indian Oil, Bharat Petroleum and Hindustan Petroleum directly from its reserves, taking a large block of import demand out of the spot market. The central bank also tightened rupee derivative rules, imposing a 20% Foreign Exchange Risk Reserve on eligible contracts above $2 million and barring the
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14th Edition of NJA ’25 Announced
Mumbai The All India Gem & Jewellery Domestic Council (GJC) has announced the 14th Edition of WGC presents National Jewellery Awards (NJA’25). Organized by GJC, NJA recognizes and honours outstanding talent in the jewellery sector, celebrating excellence, creativity, craftsmanship, and innovation while shaping the industry’s future. NJA is known for its unbiased and relentless efforts for the welfare of the
GJEPC Road Show Strengthens Outreach in Vietnam
Mumbai: In a bid to boost bilateral cooperation, India’s Gem & Jewellery Export Promotion Council (GJEPC) held a series of constructive meetings with key stakeholders from Vietnam’s gemstone and investment sectors. A key meeting was held with Mr. K.S. Ngo The Hoc, Vice President and General Secretary of the Vietnam Association of Gemstones (VAG), accompanied by representatives from seven member
Dr. K. Srikar Reddy, CGI, San Francisco Visits India Pavilion, JCK Las Vegas ’25
The Gem & Jewellery Export Promotion Council (GJEPC) extended a warm welcome to Dr. K. Srikar Reddy, Consul General of India (CGI), San Francisco, during his visit to the India Pavilion at JCK Las Vegas 2025, North America’s premier jewellery trade show. Mr. Kirit Bhansali, Chairman, GJEPC, greeted Dr. Reddy at the Pavilion. Also present during the visit were Mr.
RBI Increases Gold Loan Availability
Mumbai: The Reserve Bank of India (RBI) has eased rules for gold loans. Those who are seeking loan against gold can now get up to 85% of the gold value as a loan, up from 75%. This new Loan-to-Value (LTV) cap applies to total loan amounts up to ₹2.5 lakh, including interest. For example, if your gold is worth ₹1
GSI Opens Laboratory in Surat
Mumbai: Gemological Science International (GSI) a full-service, high-tech lab designed specifically to meet the rapidly changing needs of the jewelry industry, has announced the launch of its state-of-the-art laboratory facility at Surat. As a result of growing business and more demand for GSI certification, GSI decided to expand its services by adding another laboratory in Diamond World complex of Surat
GJEPC Urges Govt. to Grant License to ABN Amro
Mumbai: The Gems and Jewellery Export Promotion Council (GJEPC) has urged the Central government that the Reserve Bank of India (RBI) to grant banking license to the Netherlands-based ABN Amro Bank NV, the world’s largest lender to diamond industry, so it could open up its branches in the country. The request comes following concerns over depleting finance in the Indian
WFDB Concludes EXCO Meeting
Antwerp: The World Federation of Diamond Bourses (WFDB) EXCO has ended a three day program of discussions and meetings that included an extensive strategy session to analyze, discuss and decide on its future mission across the growing, global diamond trade. The strategy session debated and agreed on themes that connect the WFDB and the international diamond trade’s past and present
New ALROSA Head Will Be Appointed Soon
Moscow: President of ALROSA will be appointed within a month, said Yury Trutnev, Deputy Prime Minister of Russia. “The decision concerning new head of ALROSA will be taken within a month,” RIA Novosti quotes him as saying. Earlier in October Trutnev said that the list of candidates for ALROSA’s presidentship was prepared and should be brought in the Government. In
