National News
Gem & Jewellery BSM 2025 :Fruitful partnerships and meaningful dialogue
GJEPCs Gem & Jewellery Buyer-Seller Meet 2025 commenced with an air of optimism and global camaraderie, setting the stage for fruitful partnerships and meaningful dialogue between Indian manufacturers and international buyers.
The event was inaugurated with a grand unveiling, paving the way for over 40 international buyers to engage in curated one-on-one business meetings with Indian jewellery manufacturers and exporters. The venue buzzed with activity as new connections were forged and long-standing business relationships were rekindled.
Among the notable international buyers. Lisi Fracchia from Spain, visiting India for the first time, expressed her delight at the overwhelming business prospects. Her experience at the BSM not only introduced her to new business avenues but also gave her the opportunity to reconnect with existing suppliers participating in the show.
Cloyette Harris Stoute, representing Alliyette, USA, is also making her maiden visit to India. Her objective of understanding India’s advanced jewellery manufacturing technology and the comprehensive supply chain process was met with great satisfaction. Deeply impressed by her interactions with exhibitors, she shared her enthusiasm about returning in the future.
On the domestic front, Hitesh Thakar, General Manager at Mohit Diamond Pvt. Ltd, reflected on the invaluable insights gained during his meetings. He noted that conversations with buyers revealed their strategic focus on brand expansion, opening up new opportunities for his company to scale their business and adapt to evolving global demand.
Priyank Shah of Walking Tree, participating as a first-time exhibitor, commended the event’s structured format. The carefully filtered buyer group enabled targeted interactions, resulting in serious inquiries from markets such as the USA, Kazakhstan, Brazil, and beyond—particularly for custom-made jewellery.
The first day concluded on a high note, with an atmosphere rich in collaboration and discovery. The meet not only reflected the strength of India’s jewellery sector but also its growing global appeal.
National News
Foreign exchange reserves declined by $11.413 billion to $698.346 billion
Forex drop due to a sharp fall in gold reserves:RBI
As of March 28, 2026, the Reserve Bank of India’s latest data reveals a brutal $30.14 billion evaporation in forex reserves over just three weeks. The headline-grabber? A staggering $13.49 billion collapse in gold reserves in a single week.
While the official line points to “valuation effects,” the underlying reality is a cocktail of geopolitical warfare, a bleeding Rupee, and an RBI backed into a corner.
For years, gold was the “safe haven.” In March 2026, it became a weight. The drop to $117.19 billion wasn’t because the RBI sold the family silver—it’s because the global gold market just endured its worst weekly rout in four decades.
- The Paper Flush: As the US-Iran conflict escalated, institutional investors faced massive margin calls on their stock portfolios. They didn’t sell gold because they lost faith in it; they sold it because it was the only liquid asset left to cover their losses.
- The Yield Trap: With oil breaching $110, inflation fears have spiked. This has forced the US Fed to signal “higher for longer” rates, making non-yielding gold look like an expensive hobby compared to high-interest US Treasuries.
The Rupee isn’t just sliding; it’s in a freefall. Falling over 4% in March alone and nearly 10% for the fiscal year, the Indian unit is gasping at record lows near 94.81/$1.
The central bank is fighting a multi-front war:
- Crude Oil Shock: Brent crude at $110 is a direct tax on India’s dollar reserves.
- The Forward Book Time Bomb: The RBI’s net short dollar position in the forward market is estimated to have ballooned to $100 billion.
- Import Cover Erosion: Adjusting for these forward positions, India’s “real” import cover has shriveled from 11 months to just 9.4 months.
If West Asia remains a tinderbox, the buffer that felt “invincible” at $728 billion in February could look skeletal by 2027. Some analysts are already eyeing a drop to $636 billion as the new reality.The RBI is no longer just “managing volatility”; it is performing triage on a currency being pummeled by global m
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