National News
GSI commences operations of exclusive lab facility at Bharat Ratnam Mega CFC, Mumbai
GSI’s new lab, spanning 2,500 sq. ft., offers a comprehensive suite of gemological services from diamond jewellery grading to identification of geographic origin in gemstones
Following the successful soft launch announced earlier, Gemological Science International (GSI) officially commenced operations at its exclusive lab facility within Bharat Ratnam Mega CFC, Mumbai an initiative by the Ministry of Commerce and GJEPC. The inauguration ceremony on 27 February 2025 marked a significant milestone in strengthening India’s jewellery ecosystem with advanced gemological services.
The event featured an introduction to GSI’s services at Bharat Ratnam Mega CFC, followed by a formal lamp-lighting ceremony and lab launch by Mr. Ravi Menon, CEO of Bharat Ratnam Mega CFC, and Mr. Ramit Kapur, Managing Director of GSI India. The launch was attended by members of the Mega CFC board and leading jewellery manufacturers, underscoring the industry’s commitment to quality and innovation.
Located within SEEPZ, Bharat Ratnam Mega CFC is a pioneering initiative that bridges gaps in India’s jewellery sector by providing modern technology, research, and training facilities. GSI’s new lab offers a comprehensive suite of gemological services, including Diamond Grading and Assortment, Screening Services, Gemstone Identification, Geographic Origin Determination for Gemstones, Identification of Diamond and gemstone Treatments, Laser Inscription and more.
Speaking at the inauguration, Ramit Kapur, MD, GSI India, highlighted the strategic significance of the facility. “Bharat Ratnam Mega CFC is set to redefine jewellery manufacturing in India, and GSI is proud to be the sole certification partner in this transformative journey with our exclusive facility. Our state-of-the-art lab ensures quicker certification turnaround times, allowing new manufacturers and retail players to access world-class services and build consumer trust effortlessly. With our expertise and advanced technology, we aim to strengthen the industry’s global competitiveness.”
With this launch, GSI reaffirms its commitment to innovation, reliability, and excellence in gemological services, empowering jewellers and manufacturers to thrive in an evolving market.
National News
IFSCA Notifies India Good Delivery Gold Framework
GJEPC Seeks Swift Rollout and Global Recognition. The Framework Is Expected To Strengthen Responsible Sourcing, Build Confidence In Indian-Refined Gold and Create Opportunities For Bullion Exports.
GJEPC has urged the Government to expedite international recognition and the implementation of the India Good Delivery Gold framework, following the notification of the International Financial Services Centres Authority (IFSCA) (Good Delivery) Guidelines, 2026. The framework is expected to strengthen responsible sourcing, build confidence in Indian-refined gold and create opportunities for bullion exports.
The guidelines establish a framework for quality assurance, responsible sourcing and traceability in gold refining. IFSCA, India’s unified regulator for financial products, services and institutions operating in International Financial Services Centres, will implement the framework through the Bullion Exchange in the IFSC. Gold from accredited refiners that meets the prescribed requirements can qualify for delivery on IFSC exchanges and for over-the-counter trading.
The framework extends beyond the purity and quality of gold bars to address their provenance. Refiners must trace raw gold to its source, assess supply-chain risks, verify suppliers and beneficial owners, and meet applicable responsible-sourcing requirements. Independent third-party audits will provide additional assurance.
The initiative follows the recommendations by NITI Aayog, a policy think tank, which had called for an India Good Delivery Standard and responsible-sourcing guidelines for refineries. The report highlighted the potential of domestic refining to retain more value within India, generate employment and support exports.
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