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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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Review Jewellery Incentives: India's CAG
New Delhi: India’s Comptroller and Auditor General (CAG) has asked the government to review export incentives to the gems and jewellery sector to safeguard revenues and prevent round-tripping. The CAG also asked the department of commerce to undertake an outcome analysis of the important schemes implemented to boost the sector from an economic, trading, and revenue perspective. All inverted duty
Popley Group Collaborates with FICCI FLO
Mumbai: Popley Group, a pioneer in luxury jewellery and lifestyle in India & Middle East for over 88 years has taken a step towards women empowerment under the auspices of FICCI FLO for their ceremony on changing of guards. FICCI Ladies Organization, (FLO) is the women wing of the Federation of Indian Chamber of Commerce & Industry (FICCI) FLO represents
Moody’s Upgrades Alrosa Rating
Moscow: Moody’s Investors Service has upgraded Russian diamond miner ALROSA’s corporate rating while reducing the rating on the probability of default. “The upgrade of ALROSA’s ratings primarily reflects the company’s strengthened business and financial profile; Moody’s expectation that its financial metrics will remain robust, despite demand and price volatility for diamonds; the company’s high profitability, positive free cash flow generation
India’s G&J Exports Declined by 3.46% in 2015-16
Exports of cut and polished diamonds in FY16 falls 13.66% G&J exports account for 14.78% of the country’s total exports in FY16 Net imports of rough diamonds drops 16.17% to USD 14,047.81 mn Gold jewellery exports drops 13.07% to USD 8,609.25 mn Colored Gemstones exports drops 4.43% to USD 433.18 mn Mumbai: India’s Exports of gems and jewellery dropped 3.46%
GJEPC Charts $100 Bln. Export Vision for India’s G&J Sector
New Delhi: Mr. Kirit Bhansali, Chairman, Gem & Jewellery Export Promotion Council (GJEPC), was invited to attend the meeting organized with selected representatives of various industry sectors that contribute majorly to India’s merchandise exports chaired by Hon’ble Prime Minister Mr. Narendra Modi at New Delhi, on 3rd November 2025. Mr. Kirit Bhansali was representing the Gems & Jewellery sector that contributes 7%
Registrations for CIBJO Congress Now Open
Milan: Registrations for the 2026 congress of the World Jewellery Confederation (CIBJO) via the dedicated congress website located at: www.cibjo.org/congress-2026/ are now open. The congress will take place in Vicenza, Italy, from Friday, September 4, 2026, through Monday, September 7, 2026. The milestone event has been declared the Centenary Congress, and it will mark 100 years since CIBJO’s establishment in 1926.
World Diamond Congress from 12 to 15th July in Singapore
Singapore: As the Organizing Committee of the 41st World Diamond Congress (WDC) is finalizing the preparations for World Diamond Congress to be held for the second time in the Island City. The Congress venue has been moved from Marina Bay Sands to the iconic, eco-chic PARKROYAL COLLECTION Marina Bay hotel . “This venue offers a more intimate, sophisticated, and beautifully sustainable setting for our
India-Oman CEPA Comes Into Force
Muscat: The India-Oman Comprehensive Economic Partnership Agreement (CEPA) has come into force on 1 June 2026, ushering in a new phase in bilateral trade relations and creating fresh export opportunities across sectors including gems and jewellery, engineering goods, textiles, agriculture, pharmaceuticals and services. Signed on 18 December 2025 following negotiations launched in November 2023, the agreement grants India duty-free market
