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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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Diamonds for Development Fund Receives Initial Funding
Gaborone: The Government of the Republic of Botswana and De Beers Group yesterday announced that De Beers Group has transferred its initial contribution of BWP1 billion to the Diamond for Development Fund, marking a major milestone in the progress of the Fund and its mandate to support Botswana’s long-term economic diversification. The disbursement follows the establishment of the Fund’s governance
De Beers Reports Lower Q3 Output
London: De Beers reported an 11% year-on-year decrease in rough diamond production to 6.8-million carats for the quarter ended September 30, primarily driven by planned plant maintenance at Orapa, in Botswana, and a slowdown at Venetia, in South Africa, ahead of a planned two-year production pause. Operational Performance: De Beers notes that rough diamond production was 11% lower at 6.8
New FEMA Guidelines to Exporters Explained
Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC), in association with IndusInd Bank, organized a webinar on 16 October 2026 to explain the revised Foreign Exchange Management Act (FEMA) guidelines and their implications for the gem and jewellery trade. Prakash Kumar Rath, Head – Gems, Jewellery and Diamond Division, IndusInd Bank, addressed key changes under the revised framework, which
India & France Explore New Frontiers in Luxury Jewellery
Paris: India’s Gem & Jewellery Export Promotion Council (GJEPC) brought 17 curated Indian fine jewellery companies to Paris, with the India–EU trade agreement lending fresh momentum to business partnerships, creative exchange and brand-building across France’s luxury ecosystem. The pitch was partnership, not just supply. India is looking to deepen its place in the global luxury conversation—not simply as a leading
Industry Elects New AWDC Board Members
Antwerp: The Antwerp World Diamond Centre (AWDC) has announced the appointment of six new Board Members representing the trade on the Board of Directors. In the past two days, the Antwerp diamond community participated in Covid-19 safe elections at the AWDC’s building, choosing two representatives among their peers of small, medium-sized and large companies, as voters and candidates are divided
India Issues Notification about KP Certificates
Mumbai: The Directorate General of Foreign Trade (DGFT), Government of India, issued a notification dated 28th September permitting the amendment of technical nature, typographical errors or errors apparent on the face of records in KP Certificate based on SOP and validated by Gem & Jewellery Export Promotion Council (GJEPC). The amended policy condition shall also be applicable to pending imports of rough diamonds. Mr. Colin Shah,
De Beers Publishes Diamond Insight Flash Report
Mumbai: De Beers’ fourth Diamond Insight ‘Flash’ report looks at how diamond jewellery design trends for the upcoming gifting season are expected to be influenced by how consumers are feeling in response to the events of this year and the impact of lockdowns. De Beers partnered with leading London-based fashion trends consultancy, Adorn Insight, to review De Beers’ consumer research data
DPIIT-GJEPC Talks Progress on E-commerce Policy
Mumbai: India’s Gem and Jewellery Export Promotion Council (GJEPC) held a meeting under the chairmanship of Mr. Anil Aggarwal, Jt. Secretary, Department for Promotion of Industry and Internal Trade (DPIIT) on 22nd September to discuss export-related issues in the gems and jewellery sector for the promotion of B2C exports through e-commerce. The video meeting was attended by Mr. S. Suresh
