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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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More Incentives for Gold Schemes in India
New Delhi: In order to further incentivise the Gold Schemes introduced by the government earlier, Finance Minister Arun Jaitley, as part of his budget announcements, announced the waiver of various taxes relating to the Sovereign Gold Bond Scheme and the Gold Monetization Scheme, 2015. For one, the redemption of bonds procured under the Sovereign Gold Bond scheme by an individual
CIBJO Seminar on Coral and Pearl Sectors
Hong Kong: The implementation of environmentally sound practices in both the coral harvesting and pearl farming sectors came under the spotlight today at the Hong Kong International Diamond, Gem & Show, with the discussion focusing not only the means to protect the fragile marine ecosystem, but also the need to present the members of the industry as responsible corporate citizens.
Indian Jewellers Go on 3-Day Strike from Today
Mumbai: All India Gems and Jewellery Trade Federation (GJF), with co-ordination and recommendation from All India Jewellery Associations announced that jewellers including manufacturers, wholesalers and retailers will go for three day closure of their business to protest against the Government’s proposals of imposing one per cent excise duty in jewellery sector. Mr. G V Sreedhar GJF Chairman, said “We are
De Beers February Sales Rise to $610M
Gaborone: De Beers reported rough diamond sales increased to $610 million in the second cycle of 2016 as demand continued to show signs of improvement. Sales in the first cycle in January were revised to $545 million. The sales figure includes the sight in Gaborone, Botswana, which took place February 22 to 26, as well as auction sales and supply
India–UK Trade Agreement: CoOs Distributed
New Delhi: To commemorate the India–UK trade agreement coming into effect, Mr. Rajesh Agarwal, the Commerce Secretary and Ms. Lindy Cameron, High Commissioner of UK in India distributed Certificates of Origin (COOs) to some of our exporter members at Vanijya Bhawan. Mr. Sabyasachi Ray, Executive Director and Mr. Antarpal Singh, Regional Chairman, Northern Region received the certificates on their behalf
Kirit Bhansali Joins India’s High Level Delegation
Mumbai: Mr. Kirit Bhansali , Chairman of India’s Gem & Jewellery Export Promotion Council (GJEPC), joins Mr. Piyush Goyal , Hon’ble Minister of Commerce & Industry; Dr. S. Jaishankar , Hon’ble Minister of External Affairs; Mr. Jitin Prasada , Hon’ble Minister of State for Electronics & Information Technology and Commerce & Industry; and Ms. Karen Rentmeesters , CEO, AWDC, at
First Jewellery Export Consignment to the UK Under India–UK CETA
Mumbai: Mumbai, India’s financial capital and the country’s premier hub for gem and jewellery exports, yesterday marked a historic milestone with the flagging off of the first jewellery export consignment to the United Kingdom under the India–UK Comprehensive Economic and Trade Agreement (CETA). The Mumbai flag-off forms part of a nationwide initiative being held across Delhi, Surat, Jaipur, Chennai and
IIJS Premiere: Overseas Buyers Passport Scheme for Int’l Buyers
Mumbai: For the IIJS Bharat Premiere 2026, the Gem and Jewellery Export Promotion Council (GJEPC) has launched an exclusive Overseas Buyers Passport Scheme. Participating International buyers can win a fixed flight reimbursement of USD 525 through a lucky draw. This initiative has been designed to encourage overseas buyers to explore a wider range of exhibitors across the show, thereby fostering
