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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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India’s Jewellery Exports to Surge $ 10 bln. to UAE
Mumbai: The Gem & Jewellery Export Promotion Council (GJEPC), the apex body of gem and jewellery trade in India, applauded the historical India-UAE Comprehensive Economic Partnership Agreement (CEPA), as the sector will be benefited the most by this strategic pact.Import duty on Jewellery exported to UAE from India is reduced from 5 to 0%. And import into India from UAE
GJS Scheduled between 3 & 6 April in Mumbai
Mumbai: All India Gem and Jewellery Domestic Council (GJC), the Apex industry body representing the entire jewellery value chain across India, proudly presents its 1st large scale B2B Jewellery Expo “INDIA GEM & JEWELLERY SHOW (GJS 2022)” scheduled to be held from 3rd April to 6th April at Jio World Convention Centre, Mumbai. GJS will comprise top of the line
Kapil Dev, Mohinder Amarnath Presented IGJ Awards
Mumbai: India’s Gem and Jewellery Export Promotion Council (GJEPC) hosted the 47th India Gem and Jewellery Awards (IGJA), Powered by GIA at Taj Lands End, Mumbai. IGJA has become one of the foremost recognition platforms for the jewellery sector in India to encourage exports and award excellence in manufacturing, finance and innovation. A total of 32 awards were given away
Assets Worth Rs. 19,111 of Defaulters Attached
New Delhi: The Indian government on Tuesday said assets worth ₹19,111 crore relating to fugitives Vijay Mallya, Nirav Modi and Mehul Choksi, have been attached so far. In a written reply to the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary said that the three fugitives have defrauded public sector banks by siphoning off funds through their companies resulting
GJEPC Welcomes India’s Role as KP Chair
Mumbai: The Gem & Jewellery Export Promotion Council (GJEPC), the nodal agency for the Kimberley Process (KP) in India, welcomes India’s election as Chair of the Kimberley Process Certification Scheme (KPCS) for 2026. The Kimberley Process Certification Scheme, a UN-mandated initiative, is the only global mechanism governing international trade in rough diamonds, aimed at preventing conflict diamonds from entering legitimate
India New Zealand FTA to Benefit G&J Industry
Mumbai: India and New Zealand recently concluded a Free Trade Agreement (FTA) that offers significant duty-free access for Indian exports, but Gems & Jewellery (G&J) are listed among the sensitive sectors excluded from immediate zero-duty benefits under the FTA, with India protecting these products, alongside dairy, sugar, and metals, from immediate tariff cuts, though the overall deal aims to boost labour-intensive exports like textiles,
India’s G&J Exports Recover During April-Nov 2025
Mumbai: India’s gem and jewellery (G&J) exports showed clear signs of stabilization and recovery during April-November 2025, supported by improving global demand conditions and strong performance across diversified international markets. Total exports for the period rose marginally by 0.07% year-on-year to $18.87 billion, compared to $18.85 billion in the corresponding period last year, underscoring the sector’s resilience amid a challenging
How Many Years will the Diamonds Reserves Last?
Mumbai: Global economically viable diamond reserves are estimated at about 1.8 billion carats. At the current annual production level of roughly 90 million carats, these reserves are expected to sustain the market for around 20 years. The estimate was shared by Sergey Takhiev, Head of Corporate Finance and Investor Relations at Alrosa. More than half of the world’s diamond reserves
