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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 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
Coin Collection Featuring Argyle Pink Diamonds
Perth: The Royal Canadian Mint has unveiled the Opulence Collection consisting of numismatic masterpieces featuring pink diamonds from the famed Argyle mine. This new collection, headlined by the one-of-a-kind Ultimate, a 1kg pure platinum pink diamond coin, was unveiled at the Ottawa Art Gallery. Marie Lemay, President and CEO of the Royal Canadian Mint, said, “The Royal Canadian Mint’s reputation
GIA Acquires 30% Shareholding in TRACR
New York: De Beers Group and GIA (Gemological Institute of America) yesterday announced the signing of a definitive agreement for GIA to acquire a 30 per cent shareholding in Tracr, the De Beers Group-backed company behind the development of the pioneering diamond provenance blockchain-driven platform. The agreement marks a significant milestone in Tracr’s evolution towards independence and reflects GIA’s confidence
De Beers Introduces Desert Diamonds Icons
Las Vegas: At the annual JCK Las Vegas Show – the largest jewellery event in the global calendar – De Beers Group yesterday set out its view on the way forward for the natural diamond sector, calling on the trade to work together to capitalize on the early success of the Desert diamonds ‘beacon’ campaign with the introduction of Desert diamonds Icons. The Desert
Dr. Akinwumi Adesina is Chairperson of Diamonds for Development Fund
Gaborone: The Government of the Republic of Botswana and De Beers Group are delighted to confirm that Dr. Akinwumi Adesina has been appointed as the Diamonds for Development Fund’s Chairperson. Dr. Adesina is a widely respected global leader and renowned development economist with close to 40 years of experience in global and African development issues. He was the 8th elected President
GJEPC Showcases India’s Craftsmanship at JCK Las Vegas
Las Vegas: The Gem & Jewellery Export Promotion Council (GJEPC) marks a defining milestone this year, celebrating its 21st consecutive participation at JCK Las Vegas, the world’s premier jewellery trade event. From May 29th to June 1st, 2026, at The Venetian Expo, the India Pavilion will serve as a global stage for 33 of India’s most visionary member exporters. Spanning
