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GJC celebrates 25 years of gold hallmarking in India with felicitation of Union Minister Pralhad Joshi

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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.

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National News

Gold Loans Average Ticket Size Jumps 39% YoY to ₹1.96 lakh

Analysts Attribute the Sharp Trajectory to Enhanced Collateral Valuations, Which Have Allowed Borrowers to Leverage Existing Assets for Higher Credit Limits

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Driven by a sustained rally in bullion prices, India’s gold loan market is experiencing unprecedented growth. The average ticket size surged 39% year-over-year to Rs.1.96 lakh in FY26, effectively doubling over three years. This nationwide portfolio expansion underscores robust credit demand and a broader penetration of formal financial services across demographics.

Gold loans have become the largest securitised asset class in India during the April-June quarter of FY27, overtaking vehicle loans for the first time this financial year, according to a CRISIL Ratings report. The report showed gold loans accounted for around 31% of total securitisation volumes, ahead of vehicle loans at 26%, as overall issuances rose 22% year-on-year to about Rs.60,000 crore.

Analysts attribute the sharp trajectory to enhanced collateral valuations, which have allowed borrowers to leverage existing assets for higher credit limits amid tightening liquidity in alternative retail segments.

The growth story is also becoming increasingly broad-based across the country. While southern India remains an important market for gold loans, there is strong momentum in newer geographies, according to Experian, a provider of credit information.

Strong YoY sourcing growth in FY26 was seen in states such as Uttar Pradesh (+138%), West Bengal (+112%), Rajasthan (+105%) and Maharashtra (+102%), highlighting growing acceptance of gold-backed lending beyond its traditional regional concentration and indicating a broader pan-India expansion trend

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