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
Precious metal ETFs surpass equity fund inflows
In a historic shift for the Indian mutual fund industry, January 2026 witnessed net inflows into precious metal Exchange Traded Funds (ETFs) surpassing equity fund inflows for the first time. Driven by record-breaking rallies in gold and silver, investors pivoted toward “safe-haven” assets amid heightened equity market volatility.
Comparative Inflow Analysis
The month was characterized by a distinct “performance-chasing” trend. Despite robust Systematic Investment Plan (SIP) contributions, equity schemes trailed behind the surge in metal-backed instruments.
| Asset Class | Net Inflow (Jan 2026) | Key Driver |
| Gold & Silver ETFs | ₹33,000 Crore | Unprecedented price appreciation |
| Equity Schemes | ₹24,029 Crore | Market volatility; downward bias |
| Total SIP Contribution | ₹31,002 Crore | Record high; stable growth |
Note: Total Industry AUM has now surpassed the Rs.81 lakh crore milestone.
Commodity Price Dynamics
The surge in inflows correlates directly with extreme price movements on both global (COMEX) and domestic markets during the December 31 – January 29 period.
- Gold: Rallied 23% to an all-time high of $5,586/oz before a late-month correction. Domestically, prices peaked near Rs.2 lakh per 10 grams.
- Silver: Experienced a spectacular 60% climb, peaking at $121/oz before stabilizing at $84/oz. Domestic prices reached Rs.4 lakh per kg, exacerbated by a depreciating Rupee.
Asset Management & Concentration
The bulk of the metal-centric capital was directed toward Gold ETFs, though Silver ETFs maintained a significant secondary share.
- Gold ETF Inflows: Rs.24,040 Crore
- Silver ETF Inflows: Rs.9,000 Crore
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