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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
Top News
Sarine’s Sales Expected to Grow in Q4
Tel Aviv: Sarine Technologies expects fourth quarter revenue grew significantly as sentiment improved in the Indian diamond manufacturing sector, the diamond equipment supplier said in a trading update. The company projected sales will surpass $18 million during the final three months of 2016, which would imply a 45 percent jump from a year ago but falls in line with the
Nitin Khandelwal Appointed as Chairman of GJF
Mumbai: The All India Gems & Jewellery Trade Federation (GJF), a national trade federation for the promotion and growth of trade in gems and jewellery across India, has appointed Mr. Nitin Khandelwal as Chairman and Mr. Pramod Agarwal as Vice Chairman for a period of two years. The list of other Directors of GJF has been uploaded on the company
GJEPC Guides on “Benefits of Organised Trading”
Mumbai: The Gem & Jewellery Export Promotion Council organised a seminar in Mumbai on 5th January 2017 to create awareness about the benefits of cashless transaction, income tax compliances, as well as on doing business in an organised manner. The seminar was, especially organised for the non-members of the Council who are doing business in an unorganised manner, but have
GJEPC’s Design Inspirations Seminar on 9-10 Feb
Mumbai: The Gem & Jewellery Export Promotion Council (GJEPC) has announced that its Design Inspirations seminar will be held on February 9th and 10th 2017, in Mumbai. An annual event, each year the seminar explores the design trends paradigm and emerging scenarios through the presentations of expert speakers. The audience is also provided with insights on how the broad trends
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
