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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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Sky Gold & Diamonds Enters MSCI India Domestic Small Cap Index, Marks Key Milestone In Growth Journey

Index Inclusion Highlights Sky Gold’s Growing Market Relevance, Positive Operating Cash Flow and Focus On Disciplined, Scalable Growth.

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Sky Gold & Diamonds Ltd, one of India’s fast-growing jewellery manufacturers, has been added to the MSCI India Domestic Small Cap Index, as part of the latest index review announced by MSCI.

The inclusion marks an important milestone for Sky Gold, reflecting the company’s growing presence and relevance within India’s listed small-cap universe.

A key development during the current quarter has been the company turning operating cash flow positive, marking an important step in improving working capital discipline and strengthening the quality of its growth. The company remains focused on balancing business expansion with profitability and cash flow generation.

Sky Gold is simultaneously strengthening its governance and management framework, with a structured leadership approach, robust and strengthened financial and governance processes, including engagement with a large global accounting firm.

Operationally, Sky Gold continues to focus on lightweight and value-added jewellery, while expanding its customer base and strengthening its presence across organised jewellery retail. Its asset-light manufacturing model remains central to its strategy of scaling capacity while maintaining capital efficiency.

Commenting on the development, Mr. Mangesh Chauhan, Managing Director, Sky Gold and Diamonds Limited, said:

“Our inclusion in the MSCI India Domestic Small Cap Index is an important recognition of our growth journey over the years from building scale to building a stronger, more disciplined and institution-ready organisation. As we move forward, our focus is on a sustainable business—one that grows profitably, converts growth into cash, deploys capital efficiently and continues to strengthen the systems and governance required to operate at a much larger scale”.

With Sky Gold 3.0, we are building the organisation for this next phase of growth with greater financial discipline, deeper customer relationships and a stronger scalable operating model. We believe this inclusion will further broaden Sky Gold’s visibility within the institutional investment community and reinforce our commitment to creating long-term value for our stakeholders.”

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