The Week the Indian Gold Market Changed: A Rupee Crisis Meets a Duty Shock

Macro Snapshot: The week ending May 15 was the most consequential week of the year for the Indian gold and silver trade, not because of what happened to international prices, but because of what happened in India. Two simultaneous shocks reshaped the domestic market: a near 1.6% rupee depreciation to a fresh record low of 95.98 per dollar on Friday, and a Wednesday government decision to raise the gold and silver import duty from 6% to 15%, followed by a

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The Week the Indian Gold Market Changed: A Rupee Crisis Meets a Duty Shock

Macro Snapshot: The week ending May 15 was the most consequential week of the year for the Indian gold and silver trade, not because of what happened to international prices, but because of what happened in India. Two simultaneous shocks reshaped the domestic market: a near 1.6% rupee depreciation to a fresh record low of 95.98 per dollar on Friday, and a Wednesday government decision to raise the gold and silver import duty from 6% to 15%, followed by a

Read More »

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E-Commerce Jewellery Exports through Courier Route

Mumbai: As announced by Indi’s Finance Minister Mrs. Nirmala Sitharaman in the 2022-23 budget, the Finance Ministry has come up with draft Standard Operating Procedure (SoP) for facilitating e-commerce jewellery exports through the courier route. The aim is to provide a simplified regulatory framework for manufacturers and traders who want to export jewellery through e-commerce. The new rule would permit

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GIA to Shut down its Antwerp Grading Lab

Antwerp: GIA is to close its Antwerp grading lab, saying it is no longer economically viable. It will stop taking submissions on 1 July and cease trading altogether on 31 July. GIA indicated back in August 2020 that it could close or scale down the Antwerp operation. The Covid pandemic added to its woes, on top of a shift to

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GemAtlas Launches New GA Demand App

London: GemAtlas.com, a global networking platform for the gems and jewellery industry has today launched a new App, GA Demand App, to cater to the polished diamond requirements of the Indian marketplace. The App will allow users to post specific requirements for certified and non-certified single and parcel stones for both Natural and Lab-Grown Polished Diamonds. To get instant leads

Read More »

Men of Platinum Contest Winners Meet KL Rahul

Mumbai: This cricket season brought to the fore a lot more than sheer talent and performance excellence as is characteristic of the game. It was the display of the finest form of sportsmanship by men who exemplify exceptional values such as courage, perseverance, self – belief and resilience. To mark the season, Men of Platinum had released a film with

Read More »

E-Commerce Jewellery Exports through Courier Route

Mumbai: As announced by Indi’s Finance Minister Mrs. Nirmala Sitharaman in the 2022-23 budget, the Finance Ministry has come up with draft Standard Operating Procedure (SoP) for facilitating e-commerce jewellery exports through the courier route. The aim is to provide a simplified regulatory framework for manufacturers and traders who want to export jewellery through e-commerce. The new rule would permit

Read More »

GIA to Shut down its Antwerp Grading Lab

Antwerp: GIA is to close its Antwerp grading lab, saying it is no longer economically viable. It will stop taking submissions on 1 July and cease trading altogether on 31 July. GIA indicated back in August 2020 that it could close or scale down the Antwerp operation. The Covid pandemic added to its woes, on top of a shift to

Read More »

GemAtlas Launches New GA Demand App

London: GemAtlas.com, a global networking platform for the gems and jewellery industry has today launched a new App, GA Demand App, to cater to the polished diamond requirements of the Indian marketplace. The App will allow users to post specific requirements for certified and non-certified single and parcel stones for both Natural and Lab-Grown Polished Diamonds. To get instant leads

Read More »

Men of Platinum Contest Winners Meet KL Rahul

Mumbai: This cricket season brought to the fore a lot more than sheer talent and performance excellence as is characteristic of the game. It was the display of the finest form of sportsmanship by men who exemplify exceptional values such as courage, perseverance, self – belief and resilience. To mark the season, Men of Platinum had released a film with

Read More »

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