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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 $2 million and barring the
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Modi-Putin Agree to Cooperate in Diamond Sector
In a statement to the press following the Russian-Indian talks in Moscow, Russian President Vladimir Putin highlighted the strategic cooperation between Russia and India in the diamond industry. “Russia is the world’s largest diamond-producing country, which accounts for 27 per cent of the global diamond output, and India is the leader in diamond manufacturing accounting for 65 per cent of
Anglo American Donates to DDI
Gaborone: The Anglo American Group Foundation has given a three-year contribution to support the Diamond Development Initiative’s efforts to promote responsible sourcing and improve the lives of local miners and their families in Africa. Anglo’s funding will allow DDI to carry out its primary functions, including the registration of artisanal miners, the implementation of the Development Diamond Standards at mining
India’s Polished Diamonds Export -15% in Nov
Mumbai: The drop in exports of cut and polished diamonds from India continued during November 2015, with the country exporting US$ 1.32 billion worth of goods, down 15.2% from the US$ 1.56 bn worth of exports a year ago, according to data released by The Gem & Jewellery Export Promotion Council (GJEPC). However, gold jewellery exports during the month were
PDE Launches Accredited Buyers Program
Panama: The Panama Diamond Exchange has launched an Accredited Buyers Program, providing benefits to registered professional buyers from Latin American countries, on purchases of diamonds, gemstones and jewelry made at the World Jewelry Hub in Panama City. A key element of the program will be rebates of up to $1,000 on merchandise that has been acquired by a buyer on
India Should Focus on Incremental Changes in KP
Mumbai (By Suresh Chotai): More than two decades after the Kimberley Process (KP) was born, the diamond industry still faces an uncomfortable truth: the global system designed to keep “Conflict diamonds” out of the market is stuck in the past. The Kimberley Process defines conflict diamonds narrowly—stones used by rebel movements to finance wars against legitimate governments. That definition made
EU Eliminates Duty on Indian G&J Imports
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) has welcomed the elimination of import duties on Indian gem and jewellery products under the India-EU Free Trade Agreement (FTA). This removes 2-4% duties on precious jewellery, unleashing huge export potential with the 27-member EU bloc—home to the world’s elite buyers. India’s gem and jewellery (G&J) exports accounted for USD 30
Paola De Luca Holds Masterclass on Artisan Awards 2026 Theme ‘Quantum Couture’
Mumbai: Paola De Luca, a globally recognised jewellery trend forecaster and Founder of The Futurist LLC, led an online masterclass on 23 January that drew over 200 participants, helping designers interpret Quantum Couture, the theme for The Artisan Jewellery Design Awards 2026. Curated as a preparatory session ahead of submissions, the masterclass explained how the theme, Quantum Couture – Re-Engineering Beauty and Cultural Codes,
Ranbir Kapoor Joins PNG Jewellers as New Ambassador
Mumbai: PNG Jewellers, one of India’s most revered jewellery houses with a legacy dating back to 1832, announces Bollywood icon Ranbir Kapoor as its new brand ambassador. With his effortless blend of heritage, credibility and contemporary appeal, Ranbir Kapoor marks an exciting new chapter in PNG Jewellers’ journey as the brand strengthens its national presence. Founded in Maharashtra and now
