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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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US Tariff Could Dent Growth of India’s G&J Industry: GJC
Mumbai: The United States (US) has maintained a 10% additional tariff on Indian gem and jewellery (G&J) exports under a permanent Section 301 regime, which replaced the previous temporary Section 122 surcharge on July 24, 2026. This duty applies to natural diamonds, lab-grown diamonds, coloured gemstones, and finished jewellery, impacting India’s primary overseas market. Expressing his dissatisfaction on the move,
The Platinum Buyer Seller Meet Ends Successfully
Kochi: The Platinum Buyer-Seller Meet (BSM) 2026, hosted by Platinum Guild International (PGI) in Kochi on 8th & 9th July, brought together 10 manufacturers, more than 70 retailers and industry partners for discussions on product innovation, changing consumer demand and the future growth of platinum jewellery in India. Over the last few years, platinum jewellery has sustained double-digit growth in
New Tariff Puts India’s G&J Exports Under Pressure
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) has taken note of the United States’ transition from the temporary Section 122 balance-of-payments surcharge to the new Section 301 tariff regime, effective from 24 July 2026, under which the additional tariff on Indian gem and jewellery (G&J) exports remain unchanged at 10%. The new tariff framework follows the conclusion of investigations
European Natural Diamonds Exempted from US Tariffs
Antwerp: Natural diamonds cut in Europe will once again be exempted from US import tariffs. This brings an end to the 10% import tariff that had been in effect for the past six months. The restored exemption is significant news for the Antwerp diamond sector: Antwerp is Europe’s leading diamond-cutting centre, and the United States is a major trading partner
NDC Announces Partnership with Chow tai Fook
Mumbai: The Natural Diamond Council (NDC) yesterday announced an exclusive strategic partnership with Chow Tai Fook Jewellery Group (Chow Tai Fook), in the Greater China region, to advocate the “Natural Diamonds Dream” to Chinese consumers, especially the younger generation, through diverse communication channels and accessible digital content, along with professional training resources. The partnership aims to convey the value and beauty of
Rio to Showcase Argyle Pink, Red and Blue Diamonds
Perth: Rio Tinto has unveiled a preview of its final showcase of rare Argyle pink, red and blue diamonds from its iconic mine in the remote east Kimberley region of Western Australia. Mining ceased at Argyle on 3 November, 2020 and the 2021 Argyle Pink Diamonds Tender is the final collection of the rarest diamonds from the final year of
India's G&J Exports Grew by 16.63% in April 2021
Mumbai: India’s Gem and Jewellery sector has witnessed a decent recovery in exports over the last few months, as demand is back in major export markets. In the month of April 2021, the overall gross exports of gems and jewellery is showing a growth of 16.63% to US$ 3369.65 million as compared to US$ 2889.12 million in April 2019, the
GJ Industry Voices Concern at USTR Public Hearing
Mumbai: At the United States Trade Representative (USTR) multi-jurisdictional hearing held virtually on 10th May, India’s Gem & Jewellery Export Promotion Council (GJEPC) along with other major trade bodies and leading exporters from the gem & jewellery sector represented Indian industry’s grievances over a proposed 25% import duty on 17 Indian jewellery items. The witnesses from gem & jewellery sector
