JB Insights
GEMS & JEWELLERY BANKING SUMMIT
The GEMS & JEWELLERY BANKING SUMMIT held in Mumbai addressed the critical issue of perceived lack of transparency in the GJ industry, due to which bankers are reluctant to finance GJ businesses to a large extent. The industry is facing challenges such as higher interest rates on business loans, lack of transparency on the banking policy, and limited access to bank loans.
Avenues explored for enhancing access to finance, fostering entrepreneurship and catalysing digital transformation
The GEMS & JEWELLERY BANKING SUMMIT held in Mumbai addressed the critical issue of perceived lack of transparency in the GJ industry, due to which bankers are reluctant to finance GJ businesses to a large extent. The industry is facing challenges such as higher interest rates on business loans, lack of transparency on the banking policy, and limited access to bank loans.

The Gems & Jewellery Banking Summit was inaugurated at the Jio World Convention Centre, Mumbai .Present at the inauguration were Sachin Jain, CEO -WGC, Saiyam Mehra, Chairman -GJC, Rajesh Rokde, Vice Chairman-GJC ,Ravi Prakash Agarwal, Director-GJC and Convenor – Gems & Jewellery Banking Summit, Sunny Dholakia, Co Convenor -Gems & Jewellery Banking Summit, committee members of GJC and dignitaries of the GJ industry and banking & finance sector.
Gems & Jewellery Banking Summit, an initiative of GJC, is presented by WGC. The Summit is powered by ShreeKunj- Kolkata and supported by Banglore Refinery, Mukti Gold , Yes Bank and Laxmi Diamonds, Bengaluru.
The GJ sector communicated to the banks and financial institutions that they want to be treated like any other mature sector. Saiyam Mehra,Chairman- GJC in his inaugural welcome address said “Like other industries, GJ sector is also transforming. The GJ sector is requesting all bankers to treat GJ industry on par with other industries; keep interest rates at 8-9 % with a spread of 0-1%. Additionally the industry is seeking easier policies and facilitation for EMI based buying facilities for end-consumers, credit card swiping interest rates and EDC/POS machine implementation in every retail showroom.”




An advantage of dealing with GJ SECTOR was underscored at the summit::This industry not only provides sales profit but also benefits from price increases. Gold prices rarely decrease, so the increased price profit is also shared with the bankers. Furthermore, the domestic G&J sector has a unique modus operandi, requiring proper KYC of the end consumer, creating a database for more transparency in the sector.
Leading players from the GJ and banking sectors held intensive panel discussions. The session on Strength of the GJ industry: Financing opportunities for Bankers & Building resilience in the GJ industry pointed out that for a long time banks viewed the GJ sector with scepticism. But, there has been a change in the relationship with industry getting organized, especially post the Gold Control Act. There was a unanimous opinion that compliance, governance, ethical and efficient accounting were key to building a reputation as an ethical player. It was essential to share data with banks, maintain accounts and meticulous documentation.
In Understanding of Financial Tools for Jewellery Industry the panelists underscored the importance of taking advantage of facilities offered by banks if one wishes to grow. It is imperative to get a credit rating for one’s business. Finance is based on data, not just on collaterals. There was an intense discussion on the features and modalities of gold metal loan including the fact it is an affordable way of funding and that it is a pure hedge. There were various suggestions from the panel and the audience on how the GML could be streamlined and contributed to ease of doing business.
In the Banking strategy to revitalize and empower session panellists concurred that jewellery industry must take cognizance of the fact that to grow and expand one cannot rely on internal accruals; one has to avail of the funds and products available from banks. The panel concurred that there was lack of awareness on why one should avail of credit – especially against a rising asset like gold.A large percentage of jewellers don’t want to take a loan or don’t get loans because of improper financial statements and documentation.
The panellists in the session Risk Management Mechanism stressed on understanding and respecting regulations and laws of the land .Ratings and credit scores that demonstrate creditworthiness are crucial. It is important to understand that banks don’t wish to place any hindrances, they just work within regulatory and risk management guidelines. Compliance and transparency will be crucial in upliftment of the GJ industry.
The summit concluded on a positive note with both parties keen on continuing the conversation. As Sachin Jain stated that we may not have all the answers and solutions at the end of the summit, but it is encouraging that we have commenced a dialogue.
The next edition of the GEMS & JEWELLERY BANKING SUMMIT is scheduled for 17 May 2025.
JB Insights
From Customer Intelligence To Autonomous Growth Intelligence: Deepansh Bhargava Senior Vice President & Head Marketing at VBJ
From Customer Intelligence To AI-powered Growth Decisions, The Next-Gen CDP Is Built To Create Measurable Incremental Value.
For the last 6 years, Customer Data Platforms have transformed how brands understand their customers. They have brought fragmented data together, created unified customer profiles, enabled segmentation and made personalisation more intelligent. But the next evolution of CDPs will not be defined by how much customer data they can organise. It will be defined by how intelligently AI can convert that data into consumer value and incremental business outcomes.
The shift is from Customer Intelligence to Growth Intelligence.
Businesses today know more about their existing customers than ever before their purchase history, frequency, preferences, lifetime value and likelihood of buying again. Yet the larger opportunity lies in moving beyond what customers did to understanding what they need next, where their behaviour is changing and where the next phase of growth will come from. This also requires a sharper focus on incrementality.

Revenue, ROAS, conversions and engagement tell us what happened. But they do not always tell us how much of that outcome was created because of an intervention and how much would have happened anyway.
That difference is the Delta. AI can help take CDPs beyond systems of customer intelligence and turn them into systems of consumer and commercial decision intelligence. Instead of simply identifying customers with a high propensity to purchase, an intelligent growth system could identify intent, unmet needs and moments that matter then evaluate opportunities across acquisition, retention, frequency, basket size, category penetration, pricing, media, events and geography to identify where the highest incremental growth opportunity lies.
Growth intelligence should also help businesses identify where growth is likely to disappear. Early signals from customer behaviour, categories, geographies or spending patterns could reveal risks long before they become visible in the P&L. AI could identify the source of the risk, estimate its potential commercial impact and recommend interventions to change the trajectory. This is where the future becomes particularly interesting.
AI should not just predict customers. It should increasingly help predict the business.
The next generation of AI agents could continuously monitor customer behaviour, sales, categories, inventory, geographies, media and store performance. They could identify anomalies, form hypotheses, estimate commercial impact, recommend interventions, test them and measure the incremental outcome.
The role of the marketer would evolve from simply managing campaigns to managing the intelligence, strategy and guardrails around a more autonomous growth system.
This evolution can be built around three principles: Anticipate, Act and Account.
1. Anticipate where consumer needs and growth will emerge and where they may disappear.
2. Act by identifying and eventually executing the most relevant intervention for the consumer and the business.
3. Account for whether that intervention genuinely created incremental value.

The CDP of the future, therefore, should move beyond being a platform that simply manages customer data. It should become a Growth Decision Platform one that helps businesses understand consumers better, identify opportunities, detect risks, recommend actions, measure incrementality and continuously learn from every intervention. The ultimate measure of such a platform should not be the volume of data it manages.
It should be much simpler:
Show me the Delta you create.
Because ultimately, consumer centricity is not the opposite of growth. It is where sustainable growth begins.
-
TechBuzz33 minutes agoC4i4 Team Explores AI, Industry 4.0 Applications At IIGJ, Mega CFC
-
DiamondBuzz15 minutes agoIndia LGD Sector Is Pushing Back Against Aggressive Discounting
-
National News9 minutes agoDeepa Jewellers Lists At Rs 221, A 25% Premium
-
National News52 minutes agoGold Loans Emerge As India’s Second-Largest Retail Credit Segment: TransUnion CIBIL

