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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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Tritiya Set to Do Business of Rs. 20000 Crore: Nirav Bhansali
Mumbai: IIJS Tritiya, the third exhibition under the IIJS banner, will make its debut at the Bangalore International Exhibition Centre (BIEC) in Bengaluru from 17th to 20th March 2023 – a month prior to Akshaya Tritiya, the auspicious gold jewellery-buying festival. Southern India is an under-explored jewellery market for B2B manufacturers. So when GJEPC organized IIJS Premiere show in Bangalore,
DMCC to Host First Ever LGD Symposium in July
Dubai: DMCC will host the inaugural Lab-Grown Diamond (LGD) Symposium in Dubai. Set to take place on 10th July 2023, the symposium is seen as a timely and world-first opportunity to benchmark this nascent technology-driven industry’s unique challenges and remove barriers to growth. DMCC will convene global leaders in the lab-grown and technology space, including industry, retailers, financial institutions, governmental
India’s G&J Exports Make Strong Recovery in Feb
Mumbai: India’s gem and jewellery (G&J) exports witnessed a resurgence in February, buoyed by the swift recovery of both the Chinese and Middle East markets. In February 2023, the overall gem & jewellery exports witnessed a surge of 24% to ₹28832.86 crores as compared to ₹23326.80 crores for the same period last year. In February 2023, the overall gross export
Platinum Market Likely to be in Deficit: WPIC
London: After two years of significant surpluses, the platinum market is forecast to move to a material deficit in 2023, according to a report from the World Platinum Investment Council (WPIC). The change from the 776 koz surplus in 2022 to the forecast deficit of 556 koz in 2023 is over 1.3 Moz. This reflects total supply remaining close to
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
