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IAGES  is a pioneering framework to ensure transparency, trust and sustainability in the gold sector

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Indian Association for Gold Excellence and Standards (IAGES)is a Self Regulatory Organisation (SRO) created by the Indian gold industry, for the Indian gold industry, and supported by prominent gold sector industry associations. IAGES stands as an independent body revolutionizing the gold industry in India, aims to brings a pioneering framework to ensure transparency, trust, and sustainability in the gold sector. Kaushlendra Sinha, CEO -IAGES speaking to JewelBuzz, underscores how IAGES will enhance compliance and build trust in the gold sector and dwells on the pan – India roll-out of IAGES.

We are at GJS Diwali edition-What’s your impression of this year’s event?

The energy here is palpable. There’s a renewed sense of optimism, and I must commend the GJC  for orchestrating such a seamless show. Events like this are invaluable—they allow us to connect with stakeholders across the ecosystem.

Tell us about IAGES’s relationship with trade organizations.

We maintain a close partnership with the GJC, which is a primary shareholder of IAGES. Our collaboration extends across multiple initiatives, ensuring alignment with industry standards. In essence, we are an industry-led, self-regulatory organization—the first of its kind globally in the gold sector.

 What’s the mission behind IAGES?

 Our goal is to enhance compliance across the gold industry, thereby strengthening consumer trust throughout the value chain. By creating transparency and standardization, we aim to give consumers confidence when engaging with gold businesses, particularly in high-value, emotional transactions.

 How has IAGES evolved since inception?

The initiative began in collaboration with the World Gold Council. By August 2025, IAGES became an independent entity and now operates as a fully industry-led initiative. Our shareholder base includes the GJC and IAGES partners, with more joining progressively.

 How are you engaging with the industry across India?

Currently, our accreditation program is live in Mumbai. However, we’ve received significant inquiries from other regions, and we’re actively expanding our assessor network nationwide. Our long-term objective is Pan-India coverage, enabling businesses to access our services regardless of location.

 And on the consumer side, what’s the strategy?

Consumer engagement is central to our initiative. IAGES accreditation provides a seal of trust, signifying that a business has undergone third-party assessment, not self-certification. This ensures consumers interact with entities that demonstrate integrity, compliance, and best practices. Our marketing campaign will roll out within the next month, directly targeting consumer awareness and trust.

 Can you share some numbers?

We’ve seen a strong response, with over 200 expressions of interest to date. Our panel of 10 trained assessors is currently onboarding, with rigorous training on our code of conduct. Accreditation isn’t instantaneous—it’s a structured, methodical process, ensuring credibility and consistency.

 Any final thoughts as you expand this initiative?

 Our vision is clear: drive the gold industry towards organization, transparency, and consumer confidence. With government encouragement for the organized sector, initiatives like IAGES are critical in enhancing credibility and reputation.

 Thank you for your insights. Wishing you and your team continued success.

 Thank you, Steve. We thank JewelBuzz for providing  this platform to share our vision and look forward to connecting further with both industry and consumers.

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JB Insights

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.

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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.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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