JB Insights

GJC presents Preferred Manufacturer of India (PMI) ExhibitionIndustry’s favourite business + leisure event

Published

2 years ago

February 11, 2024

The All India Gem and Jewellery Domestic Council (GJC) presented the much-anticipated Preferred Manufacturer of India (PMI) exhibition, a three-day event, from February 6th to 8th, 2024, at the prestigious Hyatt Regency in Gurugram. The event was inaugurated with great enthusiasm by distinguished guests Vibha Rani, Director & Head BIS, Faridabad, and Shri R Arulanandan Ji, Director of the Ministry of Commerce & Industry.

The exhibition featured a dazzling display of 46 stalls, showcasing their craftsmanship and received a roaring start with approximately 150 leading jewellers from across the country. This congregation of talent and expertise is a testament to the thriving jewellery industry in India and its ability to set global standards. Attendees explored a diverse array of exquisite pieces, ranging from traditional to contemporary styles, all under one roof.

Saiyam Mehra, Chairman (GJC), expressed his excitement about the event, stating, “PMI stands as an exclusive exhibition, not merely a showcase; it embodies a celebration of the rich heritage and craftsmanship that our nation proudly boasts. This platform allows us to unveil the pinnacle of Indian jewellery to the world.”

Rajesh Rokde, Vice Chairman (GJC), echoed this sentiment, adding, “PMI serves as the quintessence of exclusivity, bringing together the industry’s finest minds and talents. It acts as a melting pot of innovation and tradition, laying the foundation for the future of Indian jewellery.”

Madan Kothari, Convenor of PMI, emphasized the significance of the event in promoting India’s reputation as a global hub for quality jewellery manufacturing. He remarked, “PMI brings together the best manufacturers in the country, offering visitors an unparalleled opportunity to witness the richness and diversity of Indian jewellery heritage. During this PMI, we will be honouring the Jewels of the North—acknowledging and celebrating their contributions in the jewellery industry “

Joint Convenor of PMI, Chetan Thadeshwar, highlighted the importance of such platforms in driving innovation and excellence across jewellery craftsmanship. “Events like PMI not only showcase existing talent but also inspire jewellers to push boundaries and explore new avenues of creativity, this time we are excited to present a fashion show – highlighting exclusive designs. Prepare for an evening of unparalleled glamour and style, promising to be unforgettable as part of our PMI.” he remarked.

The PMI exhibition at Hyatt Regency Gurugram captivated jewellery enthusiasts and industry professionals alike with its stunning displays and insightful interactions by making it Industry’s favourite business + leisure event. This exhibition was a journey through the finest creations and innovations, setting the stage for a bright and promising future for the Indian jewellery industry.

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India’s ₹361 Lakh Crore Gold Reserve Lies Idle; PM Modi Calls For Recycling To Cut Imports

With An Estimated 32,000 Tonnes Of Gold Sitting Unused In Homes and Temples, The Government Sees A Massive Opportunity To Reduce Imports, Strengthen The Economy, and Build A More Sustainable Gold Ecosystem.

Published

2 days ago

June 3, 2026

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India is sitting on one of the world’s largest untapped gold reserves, with 30,000–32,000 tonnes of gold held by households and temple trusts across the country. Valued at nearly $3.8 trillion (around Rs. 361 lakh crore), much of this gold remains locked away in cupboards, lockers, and vaults, generating little economic value.

Highlighting the importance of this dormant asset, Prime Minister Narendra Modi recently encouraged citizens to consider recycling idle gold rather than relying solely on newly imported supplies. The initiative aims to bring existing gold back into circulation and make better use of resources already available within the country.

The appeal comes at a time when India continues to depend heavily on imported gold to meet domestic demand. During 2025-26, the country spent approximately $72.4 billion (Rs. 6.88 lakh crore) on gold imports, making the precious metal one of the largest contributors to the import bill.

According to experts, increasing gold recycling could deliver significant economic benefits. Every gram of recycled gold reduces the need for an equivalent amount of imports, helping ease pressure on foreign exchange reserves while also supporting efforts to narrow the country’s current account deficit.

Even a small shift could have a substantial impact. Industry estimates suggest that if just 1% of the gold held by households and temples is recycled each year, India’s gold imports could decline by approximately 25% to 30%.

The vast stockpile of idle gold is rooted in India’s longstanding cultural and financial relationship with the metal. For generations, gold has served as a store of wealth, a safeguard during emergencies, and a symbol of family security and prosperity. As a result, many families continue to hold jewellery that is rarely used but seldom sold.

Viewed from a broader perspective, the government sees this dormant gold stock as a valuable domestic resource. Bringing a greater share of it into the formal economy could help reduce dependence on imports, enhance economic stability, and create a more sustainable gold supply chain for the future.