National News
IBJA’s Golden Girls Award celebrates and honours women entrepreneurs in the GJ industry
Jewellery Division of India Bullion & Jewellers Association Ltd. (IBJA), a leading organisation in the promotion and regulation of the bullion trade, proudly presented the highly anticipated 3rd edition of the Golden Girls Award (GGA) on April 26, 2025, in the vibrant city of Bengaluru at the Hotel Shangri-La in the Association with Heera Zhaveraat, the esteemed trade journal for the Gem & Jewellery industry.
The Golden Girls Award (GGA) was a resounding success, captivating attendees with its splendour and grace. It served as a platform to honour and acknowledge the remarkable achievements of women entrepreneurs in the industry, a testament to their unwavering dedication and innovative spirit.
The event showcased the innovative spirit of exceptional individuals, which was further enhanced by the presence of esteemed guests and sponsors from Bengaluru. Chief Guest N A Harris, MLA, Guest of Honor. Srilakshmi Kamat of Abraan Jewellers, and Bhanu Prasad Naidu, eminent industrialist from Ballari, along with several prominent jewellers fromBengaluru such as Ram of Neelkanth Jewellers, Suresh Gan, Past President JAB, Pratap Kamat, Srikanth Urs, GES India, Mahipal Juharmal, Sandeep Mehta, Sumesh Wadhera, Surya Prabhakar, V K Manoj and Nitesh Jain graced the occasion to applaud the award winners and to promote the spirit of women empowerment in the gems and jewellery sector.
At the ceremony, 13 distinguished women entrepreneurs were felicitated with the prestigious “Golden Girl Awards” for their outstanding contributions to the industry. The Host and President of the Jewellery Division, India, IBJA, Dr. Chetankumar Mehta, and the Convener of GGA, Ms. Reena Shukla, welcomed the guests.
Dr. Chetan Kumar Mehta expressed in his presidential speech, “We are thrilled to have hosted the 3rd edition of the Golden Girls Award in Bengaluru. This event not only honors the remarkable achievements of women in the gems and jewellery sector but also emphasizes the need to cultivate a culture of empowerment and inclusivity within our industry. This 3rd edition of the Golden Girls Award (GGA) is a tribute to the extraordinary women of Bengaluru who have significantly influenced the Gems & Jewellery (G&J) industry and hold the potential to advance Prime Minister Modi’s vision of catalyzing India 4.0, rooted in the principles of Atmanirbhar Bharat.”
IBJA National President, Prithviraj Kothari, said in his Video message, “This year’s edition in Bengaluru showcases our unwavering commitment to recognising the leadership and achievements of women in business. The Golden Girls Awards stands as a testament to their spirit and success.”
The Golden Girls Award (GGA) celebrated diverse talent, with nominees representing various facets of the Gems and jewellery industry, from design and craftsmanship to innovation and leadership. The winners, chosen rigorously based on their exemplary contributions, visionary leadership, and commitment to excellence, inspire all.
On this occasion, Chief Guest N A Haris Chairman of Bangalore Development Authority (BDA) said, “We extend our heartfelt congratulations to all the deserving winners of the Golden Girls Award; we honour their passion, resilience, and creativity that inspire us all, the whole of the GJ industry! The contribution of women entrepreneurs in the gem and jewellery industry has played a crucial role in making Bengaluru a shining name on the global jewellery map ”
Highlighting Karnataka’s growing prominence, Haris remarked that ‘Bengaluru’ has secured a significant place in the world’s gem and jewellery sector, thanks largely to the dynamism of its women entrepreneurs. Recognizing and celebrating their achievements through such awards, he said, is truly commendable.
Guest of Honor Srilaxmi Kamat stated, “Our G&J industry is dedicated to enhancing and empowering women’s talents. We believe that events like this and the Golden Girl Awards will create new opportunities for the award winners and inspire other women to fulfill their ambitious dreams.”
At the Juncture, Dr. Chetankumar Mehta, President of the Jewellers Association of Bengaluru, unexpectedly awarded Ms. Reena Shukla for her outstanding contributions to the industry over the past twenty years. She has traveled to 25 countries numerous times, promoting the GJ Industry.
National News
Gold Exchange Schemes See Surge In Demand
Nearly 25% Of All Jewelry Buyers Now Opt For Exchange Programs Instead Of Outright Cash Purchases
In 2026, India’s retail gold sector is witnessing a significant paradigm shift. Driven by a combination of macroeconomic factors and strategic government appeals, gold exchange schemes have emerged as a dominant trend. Nearly 25% of all jewelry buyers now opt for exchange programs instead of outright cash purchases, marking a substantial increase from previous years.
Key Drivers of the Exchange Trend
1. Record-High Gold Prices
The primary economic catalyst for this shift is the unprecedented surge in gold prices. As fresh gold becomes increasingly expensive, consumers are unlocking the value stored in their existing assets rather than stretching their liquid capital to make new purchases.
2. Government Advocacy and Import Reduction
The trend is heavily backed by national policy interests. Prime Minister Narendra Modi has actively appealed to the public to utilize old jewelry for new purchases rather than buying fresh gold. The strategic goal behind this initiative is to curb India’s massive gold imports, thereby strengthening the current account deficit and stabilizing the national economy.
3. Aggressive Jeweler Incentives
Jewelers have rapidly adapted to consumer demand and government alignment by lowering the barriers to entry for exchanges.
Two major policy shifts are driving this retail adoption:
- Zero-Deduction Exchange Schemes: Traditional penalties and melting losses that previously deterred consumers from exchanging gold are being eliminated.
- Relaxed Documentation & Purity Standards: Retailers are now accepting old gold sourced from any jeweler starting at a purity level as low as 9KT, even without original purchase bills.
Market Implications
The 25% Threshold: The fact that a quarter of all jewelry buyers are now choosing exchange programs signifies that gold recycling is no longer a niche or distress-driven activity; it has entered the mainstream consumer behavior matrix.
- For Consumers: This shift provides a highly liquid, cost-effective way to upgrade designs and maintain asset value without facing heavy financial hits or bureaucratic hurdles (like tracking down decades-old receipts).
- For the Economy: By circulating existing domestic gold back into the supply chain, India reduces its reliance on international bullion markets, directly answering the government’s call for macroeconomic resilience.
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