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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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De Beers Group Launches ‘Heera Hai Aapke Liye’
Mumbai: De Beers Group, the world’s leading diamond company, marked a significant milestone in the Indian jewellery landscape with the official launch of the “Heera Hai Aapke Liye” program at IIJS Signature. The star-studded event featured actress Sonakshi Sinha, who joined Ms. Shweta Harit, Global Senior Vice President of De Beers Group and CEO of Forevermark, to unveil an initiative
GJSCI Holds JOSH Convocation Ceremony
Mumbai: The Gem & Jewellery Skill Council of India (GJSCI) organized the convocation ceremony of JOSH for the 6th batch of specially abled candidates and the 12th batch of regular candidates on 16 January 2026 at the Bharat Ratnam Mega Common Facility Centre (CFC), SEEPZ. The ceremony marked the successful completion of training for the candidates, celebrating their hard work,
Can India Reinforce Confidence in the KP?
Mumbai (By Suresh Chotai): As India assumes the Chair of the Kimberley Process Certification Scheme (KPCS) this year, the global diamond industry sees renewed opportunity for meaningful dialogue on one of the most debated issues within the Process: the definition of so-called “blood” or “conflict” diamonds. The current Kimberley Process definition, framed in the early 2000s, restricts conflict diamonds to
GJC Submits Pre-Budget Recommendations
Mumbai: All India Gem & Jewellery Domestic Council (GJC), the apex body representing India’s domestic gems and jewellery trade, submitted its detailed pre-budget recommendations to the Hon’ble Finance Minister Smt. Nirmala Sitharaman for consideration in the Union Budget 2026–27. The representation focuses on five core pillars: 1. GST reforms to restore affordability and eliminate working capital blockage 2. Direct tax relief on
India-Thailand to Revive Bilateral G&J Trade
Mumbai: India’s Gem and Jewellery Export Promotion Council (GJEPC) hosted the 12th India Global Connect with Thailand on 28th October with an aim of exploring the untapped potential in the gem and jewellery sector. So far GJEPC had successfully organised India Global Connect e-meetings with the UK, Colombia, Switzerland, Angola, Oman, Singapore, Morocco, Saudi Arabia, UAE, Hong Kong and Qatar.
CIBJO Releases Coloured Stone Special Report
Milan: With the 2021 Virtual CIBJO Congress already underway, the eighth of this year’s CIBJO Special Reports has been released. Prepared by CIBJO’s Coloured Stone Commission, headed by Charles Abouchar, the report looks at issues related to ethical sourcing, and how the principles of responsible supply chain management can be implemented without disenfranchising artisanal and small-scale miners, and small and
Entries for 5th Artisan Awards Invited
Mumbai: The Gem and Jewellery Export Promotion Council (GJEPC) invites entries for India’s most coveted jewellery design awards – 5th edition of The Artisan Awards 2022. After 4 successful editions, GJEPC is here with another challenging theme “The Collectors”- focusing on three iconic women – Elizabeth Taylor, Barbara Hutton and Wallis Simpson – who had individual styles and portrayed an
India's Gold Demand can 'Shine' in Q4
Mumbai: India’s gold demand during Q3 2021 (July-September) jumped 47% to 139.1 tonnes versus 2020 owing to the return of positive consumer sentiments and increased trading activity, the World Gold Council (WGC) said in its latest Gold Demand Trends report. India’s Q3 2021 gold demand value was Rs. 59,330 crore, an increase of 37% as compared to Q3 2020. Jewellery demand in
