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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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Lighthouse invests Rs. 284 Cr. in Kushal’s
Bengaluru: Lighthouse India Fund IV AIF has invested INR 284 crores in Kushal’s, India’s leading fashion and silver jewellery brand. Kushal’s is the first investment by Lighthouse from its newly raised, fourth private equity fund. This round also includes a secondary buy-out providing part exit to its first institutional investor India SME Investments, which invested in 2019. Founded in 2006
GJNRF Wins ‘NGO Leadership Award’
Mumbai: Gem & Jewellery National Relief Foundation (GJNRF), the apex body coordinating the common social intervention efforts of the gem and jewellery industry in India, was conferred with the NGO LEADERSHIP AWARD at the prestigious 13thWorld CSR Day Awards organised by World CSR Congress and certified by the World Federation of CSR Professionals. The award was received by GJNRF Jt.
Sachin Jain Appointed as CEO of WGC
Mumbai: The World Gold Council (WGC) has appointed Mr. Sachin Jain as its new CEO, India, who will take up the role from March 2024. Mr. Sachin joins from De Beers where he has held several senior roles for the past 13 years. As Managing Director of De Beers India, he has led the De Beers Forevermark business in India
WGC Launches New ‘You are Gold’ Campaign
Mumbai: World Gold Council (WGC) has launched new ‘You are Gold’ multimedia campaign to reinvigorate the relationship of millennials and Gen Z with gold in a meaningful way in India. The campaign introduces a film that embraces a broader audience, presenting gold as an ally for youth, both women and men. The film focuses on highlighting stories of individuals that are getting
GJEPC Briefs PMO on US Tariff Impact
New Delhi: India’s gem and jewellery sector has formally presented its key demands to the Government of India, urging for relief from US tariffs amid escalating trade tensions. GJEPC’s industry representation to the GoI encapsulates key areas requiring immediate attention under the proposed Bilateral Trade Agreement (BTA). A high-level delegation, led by Mr. Kirit Bhansali, Chairman, GJEPC, met Principal Secretary
GJEPC Becomes Title Partner of IIJS-JCL
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) has become the Title Partner of the highly anticipated IIJS-JCL (Jewellers Cricket League), which kicked off on 11/04/2025) at the state-of-the-art Cricket Hub Ground, strategically located on the Banur-Landran Highway in Mohali. Representing GJEPC at this exciting event are esteemed officials Mr. Shamal Pote, Director along with team Mr. Pranabes Hazra
Seminar on “GJEPC & Trade Opportunities”
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) successfully organized an insightful seminar on “GJEPC and Trade Opportunities” for the gem and jewellery community of Zaveri Bazaar on April 11, 2025. The event was aimed at raising awareness about the Council’s various initiatives and support systems designed to boost the growth and global reach of the Indian gem and
Gemfields to Raise $30 Mln. Through Rights Issue
London: Gemfields Group Ltd announced on Friday plans to raise USD30 million through an equity rights issue, following a swing to a significant annual loss driven by rising costs and ongoing political instability. The London-listed miner and marketer of coloured gemstones reported a pretax loss of USD103.6 million for 2024, reversing from a USD16.6 million profit in 2023. Annual revenue
