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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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GJEPC Holds Certificate Course on G&J Export Process in Rajkot
Mumbai: GJEPC’s Surat Regional Office organised a two-day certificate course on ‘Export Process for the gem and jewellery industry’ in Rajkot on 11th-12th June, 2022. The course was specially designed for the gem and jewellery industry and covered all the practical aspects of the export process, including Product Selection, Market Selection, Searching Buyers, Risk Management, Export Documentation, Role of Various
E-Commerce Jewellery Exports through Courier Route
Mumbai: As announced by Indi’s Finance Minister Mrs. Nirmala Sitharaman in the 2022-23 budget, the Finance Ministry has come up with draft Standard Operating Procedure (SoP) for facilitating e-commerce jewellery exports through the courier route. The aim is to provide a simplified regulatory framework for manufacturers and traders who want to export jewellery through e-commerce. The new rule would permit
GIA to Shut down its Antwerp Grading Lab
Antwerp: GIA is to close its Antwerp grading lab, saying it is no longer economically viable. It will stop taking submissions on 1 July and cease trading altogether on 31 July. GIA indicated back in August 2020 that it could close or scale down the Antwerp operation. The Covid pandemic added to its woes, on top of a shift to
GemAtlas Launches New GA Demand App
London: GemAtlas.com, a global networking platform for the gems and jewellery industry has today launched a new App, GA Demand App, to cater to the polished diamond requirements of the Indian marketplace. The App will allow users to post specific requirements for certified and non-certified single and parcel stones for both Natural and Lab-Grown Polished Diamonds. To get instant leads
WDHB Opens Nominations for World Diamond Heritage List
Singapore: The World Diamond Heritage Board (WDHB) has announced the official opening of the public nomination phase for the World Diamond Heritage List (WDHL); an inaugural selection of 100 natural diamonds of outstanding historical importance. Nominations are open from May 18 to June 18, 2026. Every person — from industry professionals to diamond lovers — is invited to nominate up
GJEPC Meets Maharashtra CM to Discuss Key Ind. Priorities
Mumbai: Mr. Kirit Bhansali, Chairman of Gem & Jewellery Export Promotion Council (GJEPC) and Mr. Anoop Mehta, Convener, Diamond Panel & President, Bharat Diamond Bourse (BDB), yesterday met Hon’ble Chief Minister of Maharashtra Mr. Devendra Fadnavis to discuss key priorities concerning the growth and development of the gem and jewellery sector in the state. The discussions focused on strategic initiatives
India is Committed to Strengthening Credibility in Diamond Sector
Mumbai: The Kimberley Process (KP) Intersessional Meeting 2026 concluded in Mumbai under India’s Chairship, bringing together representatives from KP Participants, Observers, industry stakeholders and civil society organizations for four days of deliberations on the future of the natural diamond sector. Welcoming the conclusion of the Intersessional, Union Minister of Commerce and Industry Mr. Piyush Goyal said India, as the world’s
Kirit Bhansali Appointed as Nominee Director on IAGES Board
Mumbai: Mr. Kirit A. Bhansali has been appointed as the Nominee Director on the Indian Association for Gold Excellence and Standards (IAGES) Board, effective from11th May 2026. Mr. Bhansali, Chairman of India’s Gem & Jewellery Export Promotion Council (GJPEC) is a well-known personality in the Indian diamond and jewellery industry. He is a partner in Smital Gems, a leading diamond
