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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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IGJS 2022: Reaffirming India as Jeweller to the World
Jaipur: The Gem & Jewellery Export Promotion Council (GJEPC) successfully kickstarted the IGJS 2022 in association with Gemfields in India’s colored gemstone capital, Jaipur today. It is the first ever gem and jewellery physical event hosted exclusively for international buyers in India to increase exports and to exemplify India’s strong hold on the G&J industry. The show was graced with the
GJEPC Organised Outreach Program
Surat: India’s Gem & Jewellery Export Promotion Council (GJEPC), the nodal agency appointed by the Ministry of Commerce & Industry to organise state outreach programs for the gem & jewellery industry on the India-UAE Comprehensive Economic Partnership Agreement (CEPA) and India-Australia Economic Cooperation and Trade Agreement (ECTA), held the first such outreach program in Surat on 5th May, 2022. The objective
Indian Economy May Take 12 Years to Recover: RBI
Mumbai: The Indian economy may take more than a decade to overcome the losses emanating from the COVID-19 pandemic, said a report published by the Reserve Bank of India. In an analysis of the impact of COVID-19 on the economy, the report has estimated the output losses during the pandemic period at around ₹ 52 lakh crore. The perturbations from repeated waves
GJSCI to Begin Worker Training in SEEPZ, Mumbai
Mumbai: Gem & Jewellery Skill Council of India (GJSCI) inaugurated the Jewellery Occupational Skilling Hub on 3rd May, 2022, for undertaking training in setting, filing and polishing, in SEEPZ, Mumbai. The training will be conducted in a batch of 25 persons for each process for a period of three months. An allowance of Rs. 5000 per month will be paid
India to Continue Gold Import Curbs
New Delhi: Curbs on gold import are likely to remain in place with Finance Minister Arun Jaitley today saying the government is inclined to continue with this measure along with other steps taken by the previous UPA regime for controlling the widening CAD as they have worked. “Each step is being continued…efforts are being made to continue each of these
IGI Announces Mobile App, Jaipur Lab
Mumbai: The International Gemological Institute (IGI) launched its new consumer mobile application for Android/iOS titled “my Diamond my Jewelry” at the India International Jewellery Show (IIJS) in addition to offering a live grading lab. During the show, IGI also detailed the opening of its next grading laboratory and education institute in Jaipur that will cater to the Rajasthan and North
AWDC Participates in the Mine Entra Fair
Antwerp: The Antwerp World Diamond Centre (AWDC), the world leader in diamond trade, participates in the Mine Entra exhibition in Zimbabwe for the first time. “Now that the European sanctions are lifted, the way is open for intensive collaboration between Zimbabwe and the main commercial center for diamonds,” said Ari Epstein, CEO of the Antwerp World Diamond Centre. 84% of
Pangolin Recovers White Macro-Diamond
Gaborone: Pangolin Diamonds has recovered a white macro-diamond weighing 0.005484 carats from a soil sample on its recently acquired Malatswae project prospecting licence PL247/2014, in Botswana. It said in a statement that a field team was now on site collecting follow-up samples on a close-spaced grid to help determine the significance of this discovery. The Malatswae kimberlite project was located
