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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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India Withdraws 1% TCS on Jewellery Purchase
New Delhi: The Indian Government on Tuesday rolled back its decision to apply 1% tax collected at source (TCS) on cash purchase of gold jewellery of Rs 2 lakh and above and raised the limit to Rs 5 lakh with effect from 1 June 2016, media report said. Reacting to the news, jwellery stocks such as PC Jwellers, TBZ and
Platinum ‘Season of Love’ from 10 to 26th June
Mumbai: Make this summer memorable for your loved one with Platinum Season of Love. For the first time Platinum Day of Love brings to you an exclusive in- store festival, where you can commemorate your love in true Platinum style. ‘Season of Love’ is being celebrated at all leading Platinum Jewellery retailers from 10th June till 26th June. You are
WFDB Launches Young Diamantaires Programme
Antwerp: An exciting new initiative of the World Federation of Diamond Bourses (WFDB) that was launched at the recent 37th World Diamond Congress in Dubai is an international Young Diamantaires programme. The forward-looking project came out of discussions held by the WFDB’s Promotion Committee with the aim of promoting ongoing communications between younger diamond industry members and reaching out to
Myntra Forays into Fine Jewellery
Mumbai: The ubiquitous name in online fashion – Myntra introduced fine jewellery on its platform with the launch of Mia by Tanishq, India’s first work-wear jewellery brand. This event marks the next phase of Myntra’s rapid growth, as the company expands into lifestyle segment, offering consumers the best of fashion & lifestyle at a single platform. Mia by Tanishq, a
PNG Jewellers Achieves Record Q1 FY27 Revenue of 24,130 Mn
Pune: P N Gadgil Jewellers Limited has announced its unaudited financial results for the quarter ended 30th June 2026. Key Financial & Operational Highlights: § Retail Contribution: Retail sales continued to strengthen, with the retail share of total revenue increasing to 78% in Q1 FY27 from 70% in Q1 FY26, reflecting the Company’s continued focus on expanding its high-margin retail business. § Strong Same-Store Performance: The Company delivered a robust Same-Store Sales Growth (SSSG) of 46.1% YoY, driven by healthy
US Tariff Could Dent Growth of India’s G&J Industry: GJC
Mumbai: The United States (US) has maintained a 10% additional tariff on Indian gem and jewellery (G&J) exports under a permanent Section 301 regime, which replaced the previous temporary Section 122 surcharge on July 24, 2026. This duty applies to natural diamonds, lab-grown diamonds, coloured gemstones, and finished jewellery, impacting India’s primary overseas market. Expressing his dissatisfaction on the move,
The Platinum Buyer Seller Meet Ends Successfully
Kochi: The Platinum Buyer-Seller Meet (BSM) 2026, hosted by Platinum Guild International (PGI) in Kochi on 8th & 9th July, brought together 10 manufacturers, more than 70 retailers and industry partners for discussions on product innovation, changing consumer demand and the future growth of platinum jewellery in India. Over the last few years, platinum jewellery has sustained double-digit growth in
New Tariff Puts India’s G&J Exports Under Pressure
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) has taken note of the United States’ transition from the temporary Section 122 balance-of-payments surcharge to the new Section 301 tariff regime, effective from 24 July 2026, under which the additional tariff on Indian gem and jewellery (G&J) exports remain unchanged at 10%. The new tariff framework follows the conclusion of investigations
