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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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Divine-7801 Brahma Vajra Kamalam to be Auctioned
Mumbai: The New Guinness World Record for Most Diamonds Set in One Ring was achieved in September, 2020 by Kotti Srikanth, owner of The Diamond Store by Chandubhai (A unit of Hallmark Jewellers) in Hyderabad, India. The ring with a total of 7,801 natural diamonds is set to go for auction online from 13th November to 22nd November 2020. The registrations for bidding shall commence from 2nd November 2020. The
2nd Virtual IGCM Explores Opportunities with Colombia
Mumbai: After the successful India Global Connect meet with the UK, India’s Gem and Jewellery Export Promotion Council (GJEPC) organised the second edition of the India Global Connect Meet (IGCM) with Colombia on 28th October. His Excellency Sanjiv Ranjan, Ambassador of India to Colombia; Mr. Suresh Kumar, Joint Secretary, MOCI; Mr. Jaime Mantilla, Executive President of the Colombia India Chamber of Commerce
GTL, Jaipur Recalibrates to Offer World-Class Services
Jaipur: The Gem Testing Laboratory (GTL), Jaipur being operated by the Gem & Jewellery Export Promotion Council (GJEPC) for 48 years at Rajasthan Chamber Bhawan, M.I. Road has taken a leap, turning into a world-class laboratory, with infrastructure at par with most of the internationally established and renowned gemmological laboratories. The laboratory is now housed in a sprawling 10,000 sq
India’s Gold Jewellery Demand Halves in Q3: WGC
Mumbai: India’s total gold demand in Q3 2020 was down 30% to 86.6 tonnes year-on-year, which underscores the likelihood that the country may register its lowest annual gold consumption on record, according to the World Gold Council (WGC). Third-quarter demand was nonetheless 35% higher than Q2 2020 partially due to easing of lock down and some low prices in August
Diamonds for Development Fund Receives Initial Funding
Gaborone: The Government of the Republic of Botswana and De Beers Group yesterday announced that De Beers Group has transferred its initial contribution of BWP1 billion to the Diamond for Development Fund, marking a major milestone in the progress of the Fund and its mandate to support Botswana’s long-term economic diversification. The disbursement follows the establishment of the Fund’s governance
De Beers Reports Lower Q3 Output
London: De Beers reported an 11% year-on-year decrease in rough diamond production to 6.8-million carats for the quarter ended September 30, primarily driven by planned plant maintenance at Orapa, in Botswana, and a slowdown at Venetia, in South Africa, ahead of a planned two-year production pause. Operational Performance: De Beers notes that rough diamond production was 11% lower at 6.8
New FEMA Guidelines to Exporters Explained
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC), in association with IndusInd Bank, organized a webinar on 16 October 2026 to explain the revised Foreign Exchange Management Act (FEMA) guidelines and their implications for the gem and jewellery trade. Prakash Kumar Rath, Head – Gems, Jewellery and Diamond Division, IndusInd Bank, addressed key changes under the revised framework, which
India & France Explore New Frontiers in Luxury Jewellery
Paris: India’s Gem & Jewellery Export Promotion Council (GJEPC) brought 17 curated Indian fine jewellery companies to Paris, with the India–EU trade agreement lending fresh momentum to business partnerships, creative exchange and brand-building across France’s luxury ecosystem. The pitch was partnership, not just supply. India is looking to deepen its place in the global luxury conversation—not simply as a leading
