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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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IIGJ Udupi Centre Inaugurated by India’s FM
Udupi, (Karnataka): Marking a significant milestone in India’s gem and jewellery skill development landscape, the Indian Institute of Gems & Jewellery (IIGJ), Udupi was unveiled yesterday as a new centre of excellence by India’s Finance Minister (FM) Mrs. Nirmala Sitharaman, reaffirming the government’s continued focus on skilling, innovation and employment generation for the sector. The ceremony was attended by Mr.
India and New Zealand Sign Strategic FTA
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) has welcomed the signing of the India–New Zealand Free Trade Agreement (FTA) on 27 April 2026, calling it a timely and strategic step that opens a high-potential market for Indian gem and jewellery exporters. India’s current gem and jewellery exports to New Zealand stand at approximately USD 16.61 million. With zero-duty
Suresh Hathiramani Elected as Chairman of WDHB
Singapore: The World Diamond Heritage Board (WDHB) has announced the appointment of Mr. Suresh Hathiramani as Chairman and Mr. Alex Popov as Vice-Chairman, of the Selection Committee of the World Diamond Heritage List (WDHL). A Historic Initiative for the Diamond Industry: The World Diamond Heritage List is an initiative designed to identify and document the 100 diamonds that have shaped
Antwerp’s Diamond Trade Increased by 20% in Q1
Antwerp: According to figures from the Antwerp World Diamond Centre (AWDC), the total volume of diamonds traded in Antwerp increased by nearly 20% in the first quarter of 2026 compared to the same period last year. The import of rough diamonds in particular saw strong growth, with a 35.7% increase in volume. In terms of total trade value, the trading
Gold Exchange Gets Clearance from Sebi
Mumbai: Sebi gave its nod to set up a Gold Exchange, which is expected to create a vibrant gold ecosystem in India commensurate with the country’s large share of global gold consumption. The capital markets regulator, the Securities and Exchange Board of India (Sebi), on September 28 came out with a series of significant guidelines. Sebi gave its nod to
Examining Impact of Online Trading on Pearl Sector
Milan: The COVID-19 pandemic has proven to be a watershed moment for jewellery’s pearl sector, as it has for most other parts of the industry, initiating changes that most probably are irreversible. The migration to online trading of loose pearls and pearl jewellery is certainly one of them. The pearl sector has always stood apart in the industry, and this
IGJS Dubai Scheduled from 11th-13th Oct. 2021
Mumbai: The astounding success of GJEPC’s IIJS Premiere in Bengaluru has energised and raised expectations of the exhibitors participating in the Council’s second physical show since covid, the International Gem & Jewellery Show (IGJS) Dubai, scheduled from 11th-13th October 2021. Mr. Colin Shah, Chairman, GJEPC, said, “We are grateful that the UAE government has granted permission to GJEPC to hold
NDC Expands ASSURE Program
Mumbai: The Natural Diamond Council (NDC) has announced the expansion of the market leading ASSURE Program designed to protect consumers and safeguard the integrity of the natural diamond supply chain by supporting Diamond Verification Instrument manufacturers. The ultimate goal of this initiative is to maintain consumer confidence in the diamond jewellery industry. The ASSURE Program was first launched in 2019
