National News
FM: RBI’s gold buying not to replace $ for settlements
FM Nirmala Sitharaman on Monday clarified in the Lok Sabha that India’s rising gold reserves, including those held by RBI, is not intended to replace any international currency.
She responded to Congress MP Manish Tiwari’s concerns about whether the global shift towards gold signalled a move away from the US dollar as a dominant settlement mechanism.
Sitharaman said, “Gold is also kept in the Reserve Bank and gold is also being bought by the Reserve Bank. But beyond that, as regards an international currency or potential currency, there is not much for me to comment at this stage.”
Congress MP Tiwari stated that since the US abandoned the gold standard in 1971, gold had lost its significance as a major financial asset. However, in recent years, central banks worldwide have increased their gold holdings. From constituting only 6% of global reserves in 2006, gold now makes up about 11% in 2024. Countries like China, India, Poland, and Turkey have been among the most aggressive buyers, and domestic gold prices in India have surged as well. He asked “this shift away from the dollar to gold, does it indicate a renewed search for an alternative international settlement mechanism being cost the dollar?”
National News
Rajiv Jain Elected Chairman Of Jaipur Jewellery Show
The members expressed their confidence that, under his leadership, JJS will continue to achieve new milestones while further strengthening its position as one of the country’s premier gem and jewellery exhibitions.
The Jaipur Jewellery Show Organising Committee has unanimously elected Rajiv Jain as the Chairman of Jaipur Jewellery Show (JJS). Rajiv Jain is a distinguished industry leader with decades of exemplary service to the gem and jewellery sector and had held many important positions.
A few of the key positions held by him are: Past Chairman, Gems & Jewellery Export Promotion Council (GJEPC), sponsored by the Ministry of Commerce & Industry, Government of India; Chairman, Confederation of Indian Industry (CII), Rajasthan; Founder Chairman, Museum of Gems & Jewellery, Jaipur; and Past Chairman, Indian Institute of Gems & Jewellery, Jaipur (IIGJ Jaipur).
Rajiv Jain succeeds Vimal Chand Surana, who has served as the Chairman of JJS for the past 19 years. Under his visionary leadership, Jaipur Jewellery Show has evolved into one of India’s most respected and successful gem and jewellery exhibitions. In recognition of his distinguished service, exemplary leadership, and invaluable contribution to the growth of JJS, the Organizing Committee has unanimously named him as the Patron of Jaipur Jewellery Show.
Following these appointments, the Executive Committee of Jaipur Jewellery Show (JJS) is constituted as under: Vice Chairman, Dinesh Khatoria; Secretary, Kamal Kothari; Joint Secretary, Ajay Kala; Joint Secretary, Ashok Singhi; and Treasurer, Dr. Nawal Agrawal.
The members conveyed their heartfelt congratulations to Shri Rajiv Jain on his unanimous election as Chairman and expressed their confidence that, under his leadership, Jaipur Jewellery Show will continue to achieve new milestones while further strengthening its position as one of the country’s premier gem and jewellery exhibitions.
The Organizing Committee looks forward to the continued support and active cooperation of all Committee Members and Sub-Committee Members in carrying forward the vision and legacy of Jaipur Jewellery Show.
Rajiv Jain Elected Chairman Of Jaipur Jewellery Show
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Rajiv Jain Elected Chairman Of Jaipur Jewellery Show
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