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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
Top News
Surat Diamond Bourse is World’s Biggest Office Building
Surat: The vast new Surat Diamond Bourse (SDB) – stretching across nine 15-story towers – has become the biggest office building in the world.It has over 7.1m square feet of floor space, compared with just over 6.6m at the Pentagon, HQ of the US Defense Department. The bourse, built at a cost of $388m, is due to be officially opened by
Sparkle International G&J Exhibition in August
Surat : The Southern Gujarat Chamber of Commerce and Industry (SGCCI) is set to host the highly anticipated ‘Sparkle International Gems and Jewellery Exhibition 2023’ at the prestigious Indoor Stadium in Athwalines, commencing from August 25. This three-day extravaganza promises to showcase the finest jewellery pieces from over 35 renowned brands, drawing visitors from all corners of the globe. The exhibition
Mubri Organizes BSM: Brazil on the World Stage
Sao Paulo (Brazil): On the 11th and 12th of August, the expected international event BSM (Buyer Seller Meet) Brasil 2023 will take place in Sao Paulo city bringing top leading diamond and jewelry manufacturing companies coming from India to meet and make business with the biggest retailers and wholesalers from the South American country. The goal, in addition to Brazilian companies
Manushi Chhillar is Brand Ambassador of GJEPC
Nrew Delhi: The Gem and Jewellery Export Promotion Council of India (GJEPC), apex trade body promoting Indian gems & jewellery exports, globally, organised the India Evening (An Evening of Extravaganza) in New Delhi inviting distinguished Ambassadors, High Commissioners, trade diplomats representing several countries from across the world along with leading Ministry officials and trade fraternity. Dr. Rajkumar Ranjan Singh, Union
CIBJO Recommends New Definition of ‘Recycled Gold’
Milan: The World Jewellery Confederation (CIBJO) is recommending a new definition of “recycled gold״ to be used in the jewellery and watch sectors, so as to provide greater clarity and consistency both within the industry and marketplace. CIBJO will henceforth include the definition in the guidance documents it produces. The definition, which covers recycled materials recovered during manufacturing and fabrication
SEZ Conclave Stresses Ways to Boost G&J Exports
Mumbai : India’s Gem & Jewellery Export Promotion Council (GJEPC) successfully hosted the 2nd SEZ Gem & Jewellery Conclave 2025 at Bharat Ratnam Mega CFC, SEEPZ, reinforcing its commitment to advancing Technology, Branding, and Investment in India’s gem and jewellery sector. Held under the theme ‘SEZ: The Future of Indian Exports,’ the conclave brought together industry leaders and experts to explore strategies for boosting
G7 Postpones Diamond Traceability Requirement
Mumbai: The Group of Seven (G7) nations have postponed the enforcement of stringent traceability requirements for polished diamond imports, moving the deadline from March 2025 to January 1, 2026. This delay provides significant relief to India’s diamond cutting and polishing industry, which faced challenges in complying with the new regulations within the original timeframe. The G7 countries—comprising the US, UK,
GJEPC Seeks Govt Intervention on US’ Reciprocal Tariff Proposal
New Delhi: Top representatives of India’s gems and jewellery sector have urgently briefed Commerce Secretary Mr. Sunil Barthwal, IAS, on the potential repercussions of the United States’ recent notice regarding reciprocal tariffs. The delegation, led by Mr. Shaunak Parikh, Vice Chairman, GJEPC, along with Mr. Adil Kotwal, President, Seepz Gem & Jewellery Manufacturers’ Association (SGJMA), and Mr. Sabyasachi Ray, Executive
