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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’s GDP can Grow by 7.9% in 2016-17
Mumbai: India’s GDP can grow by 7.9 per cent next fiscal if the monsoon is normal and government implements the reform measures announced so far, domestic rating agency Crisil said on Friday, according to a report published in profit.ndtv.com. The growth forecast, highest by any house and even above the government’s own estimate of 7-7.75 per cent, has been arrived
Hallmark of Jewellery now Mandatory in India
New Delhi: The Bureau of Indian Standard (BIS) Bill, passed by the Indian Parliament, empowers the government to make hallmarking of gold and silver mandatory and provides for jail up to two years and fine up to 10 times of the goods’ value in case of violation related to misuse of standards. The Parliament, on 8 Mar, passed a bill
DPA Announces Changes to Marketing Team
New York: The Diamond Producers Association (DPA) has announced that Sally Morrison, Managing Director of Marketing, will leave the organization in May to pursue another professional opportunity. To ensure continuity of momentum in the DPA’s US marketing activities, Michael Pace will join the organization at the end of March as Interim Managing Director of Marketing, until a permanent replacement to
Vicenzaoro Dubai from 14th April
Dubai: An unmissable event for the jewellery business community, VICENZAORO DUBAI will open up a new chapter for the industry. It is set to be the world’s most important networking platform for those involved in jewellery, gold, precious stones and diamonds. Taking place from 14 to17 April 2016 at the Dubai World Trade Centre, the event is now in its
Candere Announces Smriti Mandhana as its New Brand Ambassador
Mumbai: Candere, the lifestyle jewellery brand from the House of Kalyan Jewellers, has announced celebrated Indian cricketer Smriti Mandhana as its new brand ambassador. Joining Shahrukh Khan as the face of the brand, Smriti’s association marks a significant step in Candere’s journey to strengthen its connect with young, modern Indian consumers. One of India’s most accomplished cricketers, Smriti has built
GJEPC Urges RBI to Ease Banking Norms to Boost G&J Exports
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) has urged the Reserve Bank of India (RBI) to introduce a series of banking and regulatory reforms to strengthen the competitiveness of India’s gem and jewellery (G&J) exports. The Council’s recommendations focus on improving exporters’ access to working capital, reducing compliance bottlenecks, streamlining banking procedures and creating a more facilitative regulatory
GJEPC Highlights Key Policy Priorities at Meeting with CIM
New Delhi: India’s Gem & Jewellery Export Promotion Council (GJEPC) highlighted the industry’s key policy priorities during a meeting chaired by Mr. Piyush Goyal, the Union Minister of Commerce & Industry, with Export Promotion Councils (EPCs) and industry associations in New Delhi on 24 June to review the Export Promotion Mission (EPM). Ashish Borda, Convenor – PMBD, GJEPC, and Sabyasachi
Thangamayil Jewellery, Receives IAGES Accreditation
Madurai: Gold buyers in Tamil Nadu can now purchase their favourite precious metal with complete trust and transparency from Thangamayil Jewellery Limited (TMJL), one of the most recognized chain of jewellery stores in the state. TMJL has officially received its IAGES accreditation, further cementing its commitment to serve its consumers in the most ethical, responsible and sustainable manner. The Indian
