JB Insights
IIG South Hosts 4th Convocation Ceremony, Celebrating Future Leaders of the Jewellery Industry
IIG South, the educational arm of Laxmi Diamonds, Bangalore, marked a proud chapter in its journey by hosting its 4th Convocation Ceremony at the prestigious Shangri-La Hotel. The grand event celebrated academic excellence, innovation, and the future of India’s gem and jewellery sector.
The ceremony was graced by two industry stalwarts — Dr. Joy Alukkas, Chairman of the Joyalukkas Group, who attended as Chief Guest, and Samruddhi V Manjunath, CMD of SiriSamruddhi Gold Palace Pvt. Ltd. and Honorable Member of the Legislative Assembly, Karnataka, who was the Guest of Honor. Their inspiring presence added great significance to the milestone occasion, which was attended by dignitaries, proud parents, alumni, and students.
Key Highlights from the Convocation
A total of 220 students were felicitated across various academic programs, signifying IIG South’s growing impact on grooming talent for the jewellery industry. Several alumni, now successful entrepreneurs, showcased their brands through stalls at the event—living proof of the institute’s influence beyond the classroom.
Book Launch – “Spreading Joy”
The event also saw the Bengaluru launch of the autobiography “Spreading Joy” by Dr. Joy Alukkas. Each graduate received a personally signed copy, making the day even more special and motivational.
Launch of B.Voc Degree Program
A landmark moment came with the official launch of the B.Voc in Gems & Jewellery Design, a new academic program by IIG South in collaboration with Jain (Deemed-to-be) University. The program was inaugurated by Dr. Easwaran S Iyer, Vice Chancellor of Jain University, further strengthening the institute’s academic footprint.
Coffee with Chetan Kumar Mehta – 15th Edition
The latest edition of the popular series, “Coffee with Chetan Kumar Mehta,” featured a special conversation with Dr. Joy Alukkas, who candidly shared insights into building one of the world’s most iconic jewellery brands. His journey left the audience inspired and motivated.
Student Showcase of Creativity
The convocation also included an exhibition of manual jewellery sketches, handcrafted ornaments, and award-winning designs—a testament to IIG South’s emphasis on creativity, skill development, and design excellence.
Recognising Support Partners
The day concluded with mementoes presented to vendors and support staff, acknowledging their contribution to the institute’s continued success.
A Vision for the Future
Addressing the gathering, Chetan Kumar Mehta, Chairman & MD of Laxmi Diamonds, stated:
“At IIG South, we don’t just teach jewellery; we nurture innovators, entrepreneurs, and leaders who will shape the future of this industry.”
With its 4th convocation, IIG South reaffirms its mission to provide world-class education and create global career pathways for the next generation of jewellery professionals. The event underscored the institute’s commitment to excellence, entrepreneurship, and a bright future for India’s gem and jewellery industry.
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.
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.
WGC Gold Market Commentary: Hiking Up A Volcano
Lesotho’s Kao Diamond Mine To Halt Operations Amid Industry Slump
MCX Gold Higher On Ceasefire Hopes, Crude Oil Price Dip
Harit Zaveri Jewellers Celebrates A Bride’s Royal Spirit In An Indian Wedding With Its New Polki Collection
Ekta Kapoor Turns Investor, Targets India’s $70 Billion Jewellery Opportunity With Ekatra Jewels
WGC Gold Market Commentary: Hiking Up A Volcano
-
National News1 day agoHarit Zaveri Jewellers Celebrates A Bride’s Royal Spirit In An Indian Wedding With Its New Polki Collection
-
GlamBuzz1 day agoEkta Kapoor Turns Investor, Targets India’s $70 Billion Jewellery Opportunity With Ekatra Jewels
-
International News11 hours agoWGC Gold Market Commentary: Hiking Up A Volcano
-
National News1 day agoTreasures By Tiara Unveils Mumbai Flagship and Café Concept At Cumballa Hill
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.