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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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Forevermark Diamond Jewellery Enters East India
Kolkata: Forevermark Diamond Jewellery from De Beers Group has strengthened its presence in East India with the launch of its new store at South City Mall, Kolkata, marking the opening of its 10th store in India and another significant milestone in the brand’s retail expansion journey. Inaugurated by filmstar Raima Sen, the store brings Forevermark’s signature collection of natural diamond jewellery to one of the
India’s G&J Exports Recovers in June 2026
Mumbai: India’s gem and jewellery (G&J) exports rebounded sharply in June 2026, with gross exports rising 26.51% year-on-year to US$2.21 billion (Rs. 21,010.78 crore), signalling a recovery in overseas demand after a subdued start to the financial year. Despite the strong monthly performance, exports for the April-June quarter remained largely unchanged at US$6.61 billion (Rs. 62,588.61 crore), up just 0.04%
GJEPC Personally Presents VIP Invitations for IIJS Bharat Premiere 2026
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) continued its outreach for IIJS Bharat Premiere 2026 by personally presenting VIP invitations to leading jewellers in Mumbai and Kozhikode, reinforcing industry engagement ahead of the country’s largest B2B gem and jewellery exhibition. The invitations were presented by Mansukh Kothari, Convenor – Events, GJEPC; Nirav Bhansali, Co-Convenor, National Events Sub-Committee, GJEPC;
Newly Elected WFDB President Mehul Shah Shares Vision for Industry
Mumbai: Mehul Shah, Vice President of Bharat Diamond Bourse (BDB) and newly elected President of World Federation of Diamond Bourses (WFDB) said that he and the WFDB committee led by him will focus on reaffirming the industry’s collective commitment to strengthening consumer confidence, and reinforcing the enduring value of natural diamonds. “We will focus on implementing the shared global vision
Baselworld Cancels 2022 Show
The show last took place in 2019, has been hit by the wholesale departure of high-profile names exhibitors, the launch of a rival event by Rolex, Patek Philippe, and others, and Covid-related postponements and cancelations. The show, which dates back to 1917 has also flip-flopped on its identity, ditching the Baselword name in favor of HourUniverse, then switching back to
Diamond Output to be 25% Below Pre-Pandemic Levels
Moscow: Alrosa said revenue in Q3 2021 amounted to RUB 77 billion, down 18% quarter-on-quarter (qoq) driven by a 20% lower diamond sales volumes and changes in the sales mix. This was partially offset by a higher price index (+10% qoq). The company’s Q3 revenue grew 55% year-on-year due to the low base of Q3 2020 (rough diamond sales of
India's Policy will Make India Gold Trading Hub: GJEPC
Mumbai: The Gem & Jewellery Export Promotion Council (GJEPC) has been spearheading brainstorming and multi stakeholder discussions at structural policy reforms of India’s bullion sector. It helped the Govt. to understand the opinion of the stakeholders from three previous editions of its annual India Gold & Jewellery Summit (IGJS). In the backdrop of the same, the 4th edition of IGJS
Russia, Belgium Sign MoU on KP Certificates
Moscow: Russia and Belgium signed a memorandum of understanding (MoU) on the electronic exchange of the Kimberley Process (KP) Certificates. The signing took place on the sidelines of the KP Plenary session, attended by the Federal Customs Service of Russia and the Federal Public Service Economy of Belgium. The memorandum will accelerate the turnover of diamond products between business partners
