National News
GJC celebrates 25 years of gold hallmarking in India with felicitation of Union Minister Pralhad Joshi
In a momentous occasion for India’s jewellery sector, the All India Gem and Jewellery Domestic Council (GJC) marked 25 years since the introduction of gold hallmarking in India with a grand celebration and felicitation ceremony honoring Pralhad Joshi, the Hon’ble Union Minister of Consumer Affairs, Food & Public Distribution, and Minister of New & Renewable Energy at GJS 2025
The event served not only as a tribute to the journey of hallmarking in India but also as a platform to chart an ambitious roadmap for the future, with a strong focus on expanding hallmarking coverage and fostering technological innovation.
In recognition of his continued support and instrumental role in advancing hallmarking reforms, Pralhad Joshi was felicitated by GJC for his leadership in steering policies that balance consumer protection with industry development. His ministry’s efforts, in collaboration with the Bureau of Indian Standards (BIS), have been central to enhancing transparency and quality assurance in the jewellery sector.
In his address, Shri Joshi reiterated the government’s unwavering commitment to strengthening consumer trust while also simplifying compliance for jewellers. He emphasized the hallmarking system as a critical trust-building mechanism and a significant step toward formalizing and modernizing the Indian gold market.
One of the most significant announcements of the event was a joint goal set by the Ministry of Consumer Affairs, BIS, and the jewellery industry: to expand mandatory gold hallmarking to 500 districts across India by the end of this financial year.
This expansion aligns with the broader objective of ensuring uniform quality standards nationwide, preventing consumer fraud, and integrating small and medium jewellers into the formal economy. GJC pledged its full support to assist local jewellers in meeting compliance standards and making hallmarking services accessible, especially in tier-2 and tier-3 cities.
In a groundbreaking move to stimulate innovation in hallmarking technology, GJC and BIS jointly announced the launch of a Hackathon aimed at developing a non-destructive testing (NDT) method for hallmarking gold.
This initiative seeks to address a long-standing concern within the industry: the challenge of verifying hallmark authenticity without damaging the piece of jewellery. Currently, traditional methods often involve partial damage or alteration during testing, which discourages on-the-spot verification by consumers and retailers.
The hackathon is open to startups, research institutions, technologists, and innovators across India and will offer funding and incubation support to viable solutions. A successful NDT mechanism would be a game-changer for quality assurance, enabling real-time, damage-free hallmark authentication across retail outlets, trade shows, and even by consumers themselves.
The celebration of 25 years of hallmarking is a testament to India’s evolution into a more structured and credible jewellery market. From its early stages to now becoming an integral part of the industry’s value chain, hallmarking has grown into a symbol of trust, quality, and consumer empowerment.
With the government, BIS, and GJC joining hands to drive expansion and innovation, the next phase of hallmarking promises to be more inclusive, tech-enabled, and consumer-centric than ever before. The GJC’s proactive role in bridging policy, practice, and innovation reinforces its commitment to nurturing a responsible, transparent, and globally competitive jewellery sector in India.
National News
Quarterly Update: Q1 FY2027- Kalyan Jewellers
Q1 FY2027 highlights robust revenue growth, expanding global footprint, and continued investment in festive season readiness.
The recently concluded quarter has been a very satisfying one, recording consolidated revenue growth of approximately 38% when compared to the same period in the previous financial year.
We saw revenue growth in excess of 38% for our India operations during Q1 FY2027 as compared to Q1 FY2026, led by robust operating momentum on the ground with healthy same-store-sales-growth across all the key markets in the country despite the 28-day Adhik Maas period falling fully in the recently concluded quarter. Adhik Maas is a once in a 3-year phenomenon during which wedding-related demand tends to take a pause in certain parts of the country. The recently concluded quarter recorded same-store-sales-growth of approximately 28%.
We launched our ‘Shine with India’ Gold Recirculation Campaign during the second half of May with the larger objective of increasing the share of recycled gold and thereby reducing dependence on imported gold. The initiative has been well received by customers, helping us increase the share of recycled gold as a percentage of revenue to over 46% during Q1 FY2027. For the month of June, the share of recycled gold as a percentage of revenue was in excess of 55%.
Our international operations recorded revenue growth of approximately 35% for the recently concluded quarter when compared to the same period during the previous financial year. Within the Middle East specifically, we witnessed revenue growth of approximately 30% for Q1 FY2027 as compared to Q1 FY2026, driven predominantly by same-store-sales-growth despite the impact on footfall during April due to the geopolitical tensions in the region.
International markets contributed approximately 14% to our consolidated revenue for the recently concluded quarter.
Our digital-first jewellery platform, Candere, recorded a revenue growth of approximately 112% during the recently concluded quarter as compared to the same period during the last year.
During the recently concluded quarter, we launched 12 Kalyan showrooms and 5 Candere showrooms in India.
The ongoing quarter has started off well and we are upbeat about the new showroom launches, gearing up with fresh collections and campaigns for the upcoming festive and wedding season across the country.
As of June 30, 2026, our total number of showrooms across India and international markets stood at 524:
- Kalyan India – 354
- Kalyan Middle East – 38
- Kalyan USA – 2
- Kalyan UK – 1
- Candere – 129
The metrics and other details provided above are subject to the Limited Review process by our Statutory Auditors. Post approval of the results for the quarter ended June 30, 2026 by the Board of Directors, a detailed information update will follow. Revenue figures provided above refer to revenue from sale of goods (excluding bullion).
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