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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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Lucara Finds 4th +1,000-ct Diamond at Karowe
Toronto: Lucara recently announced the recovery of a 1,080.1 carat diamond. It’s the fourth +1,000-ct stone from Karowe, in Botswana, since the mine opened in 2012. The Type IIa top white gem quality diamond measures 82.2m x 42.8m x 34.2mm and was recovered from direct milling of ore sourced from the mine’s South Lobe. In November 2015, a 1,109-carat stone
Rio to Build Largest Solar Plant in Canada’s North
Perth: Rio Tinto’s Diavik Diamond Mine is set to construct the largest solar power facility within Canada’s territories, featuring a vast array of over 6,600 solar panels. This innovative project will generate around 4,200 megawatt-hours of carbon-free electricity each year, catering to the mine’s energy needs. During the mine’s closure work, extending until 2029, the solar power plant will contribute
IIJS Premiere 2023 Generates Highest-Ever Business of over Rs. 70,000 Crore
Mumbai: The 39th edition of IIJS Premiere 2023, organized by India’s Gem & Jewellery Export Promotion Council (GJEPC), concluded with an overwhelming response generating its highest-ever business of over Rs. 70,000 crore for the trade. The second largest gem & jewellery fair of the world had 50,000 plus visitors at the two venues of JIO World Convention Centre (3-7 August)
Commerce Secretary Engages with Int’l Delegates
Mumbai: India’s Commerce Secretary Mr. Sunil Barthwal visited IIJS Premiere on 6th August at JWCC and NESCO, where he engaged in discussions with international delegations from several countries as well as the GJEPC Committee of Administration (CoA).The Secretary met with more than 150 international delegates attending IIJS Premiere 2023 with the aim of addressing trade challenges, exploring collaborative opportunities, and
GJEPC Participated in Mega MSME Sammelan
Lucknow: India’s Gem & Jewellery Export Promotion Council (GJEPC) participated in the Mega MSME Sammelan 2025, organised by ASSOCHAM in Lucknow on 26-27 June to mark MSME Day. The event celebrated the contributions of MSMEs to India’s economy and exports and explored ways to strengthen their growth. Mr. Antarpal Singh Sawhney, Regional Chairman (North), GJEPC, addressed the gathering, highlighting the
GJEPC Highlights FTA Potential for Jewellery Sector
Jaipur: At the ‘Growing Opportunities from Free Trade Agreements – An Industry Perspective’ workshop held on 24 June in Jaipur, Mr. Sabyasachi Ray, Executive Director, GJEPC, delivered an impactful address on how Free Trade Agreements (FTAs) are poised to reshape the future of India’s gem and jewellery exports. Organised by the Confederation of Indian Industry (CII) along with the Centre
PGI Held Season of Love Awards Ceremony in Kochi
Kochi: Building on the momentum of its previous editions, Platinum Guild International (PGI)- India marked the successful culmination of the 7th edition of its flagship retail initiative, Platinum Season of Love, with a celebratory awards ceremony in Kochi. The Platinum Season of Love Awards 2025 were hosted as part of the annual Platinum Buyer-Seller Meet, PGI India’s premier industry platform. The event brought together leading
Kirit Bhansali Graces KJIF 2025 as Chief Guest
Kochi: Mr. Kirit Bhansali, Chairman of India’s Gem & Jewellery Export Promotion Council (GJEPC) was invited as the Chief Guest at the inauguration of the Kerala Jewellery International Fair (KJIF) 2025, held at the Adlux International Exhibition & Convention Centre, Angamaly, Kochi, on 27th June 2025. Organized by the Kerala Gold & Silver Merchants Association and United Exhibitions, KJIF is
