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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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Committee Proposes Hike in Gold Silver GST
New Delhi: India’s Goods and Services Tax (GST) fitment committee has proposed raising slab of 5 percent to 7 percent and 18 percent to 20 percent. The feasibility of merging 12 percent and 18 percent to one single slab at 17 percent is, however, yet to be examined, sources said. They are also considering hiking compensation rate from 1 percent
Rio Tinto Becomes Sole Owner of Diavik Mine
Yellowknife, (Canada): Rio Tinto has become the sole owner of Diavik Diamond Mine in the Northwest Territories of Canada, continuing its leading role in the Canadian diamond industry. A transaction has been completed for Rio Tinto’s acquisition of the 40 per cent share held by Dominion Diamond Mines in Diavik, following the Court of Queen’s Bench of Alberta’s approval. With
Platinum Days of Love Launches New Collection
Mumbai: Over the last few years, we have realized of how fragile life is, making us value what we have, and cherish the relationships that we hold closest. When everything stood still, couples stood right by each other. They forged new pathways for each other when challenges took over and their dreams took a backseat. They learnt to recognize and
Rajesh Exports Registered Net Profit Growth of 69%
Bengaluru (By Evaluate Research): Rajesh Exports reported a stellar growth in net profit, ahead of our expectations, on a YoY basis, despite a global economic slowdown, indicating that margins are showing sustained improvement. Net profit for the fiscal second quarter [ended September] came in at Rs.2,914 mn, up 69% on a YoY basis. The rise in the gross and operating
JewelStart Industry Innovation Challenge 2026 Launched
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC), in collaboration with SINE, IIT Bombay, has launched the first edition of the JewelStart Industry Innovation Challenge 2026, a national platform aimed at bringing startup-led innovation into India’s gems and jewellery sector. The challenge invites startups, innovators and technology solution providers to address pressing industry needs across the jewellery value chain,
CIBJO Warns Against ‘Fraudulent Representatives’
Milan: The World Jewellery Confederation (CIBJO) is issuing an urgent warning about individuals claiming to represent CIBJO or bodies directly affiliated with CIBJO, offering products and/or financial instruments endorsed by CIBJO. The existence of such claims was brought to CIBJO’s attention yesterday, May 24, 2026, which are similar to other claims reported to us in January of this year, when
Inputs from GJEPC on GMS & CAD Reduction
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC), in reference to the meeting held on 22nd May 2026 with key industry associations, to deliberate on measures for reducing the Current Account Deficit (CAD), particularly in the context of gold imports and domestic gold mobilization, is coordinating with its members to formulate some suggestions on Gold Monetization Scheme (GMS) and
GJEPC Joins Govt Delegation to Canada for CEPA Talks
New Delhi: Union Commerce & Industry Minister Mr. Piyush Goyal is leading a high-level Indian delegation to Canada from 25-27 May to advance discussions on the proposed India-Canada Comprehensive Economic Partnership Agreement (CEPA) and strengthen bilateral trade and investment ties. Mr. Anoop Mehta, Convener – Diamond Panel, GJEPC, is representing the Council as part of the Indian delegation accompanying the
