National News
IIGJ Jaipur hosts annual crafts fair “Alankar 2025”
The Indian Institute of Gems and Jewellery (IIGJ), Jaipur, inaugurated its annual crafts fair Alankar 2025 on September 25th with a vibrant showcase of India’s rich jewellery traditions. The three-day event, running till September 27th, brings together artisans, students, and craft enthusiasts under one roof.
The fair was inaugurated by Chief Guest Rishav Mandal, IAS, Commissioner and Managing Director, Department of Skill, Employment and Entrepreneurship, and Managing Director, RSLDC. He was welcomed by Sanjay Kala, Vice President, IIGJ Jaipur: Yogendra Garg, Regional Chairman, GJEPC, D.P. Khandelwal, Board Member; Sakhil Dhadda, Neeraj Lunawat, Honorary Secretary, Jewellery Association Jaipur, Nitin Khandelwal, Regional Director, GJEPC; Divyanshu Agarwal, Registrar; Anish Kapil, Principal, faculty members and students.
Appreciating IIGJ’s efforts, Mandal assured full support from the Government of Rajasthan towards the institute’s skill development initiatives.This year’s fair features live demonstrations of traditional jewellery crafts by renowned artisans from across the country. Highlights include lacquer jewellery by Gulrakh Sultana, pachchikam jewellery by Firo כמוה Jaba Khan, gemstone carving by Amrit Sirohiva, bead.
India’s appetite for borrowing against gold is reshaping the country’s credit landscape. Outstanding gold-backed loans have surged 128% from a year earlier, crossing Rs.4 lakh crore ($48 billion) for the first time, according to data from the Reserve Bank of India. As of Jan. 31, loans secured by gold jewellery stood at Rs.4,00,517 crore, marking one of the fastest expansions in retail credit in recent years.
The boom in gold loans has helped propel overall non-food bank credit growth to 14.4% year-on-year. Personal loans now account for 34.5% of total bank lending, outpacing other segments and underscoring a broader shift toward consumer-driven credit expansion
Gold loans alone contributed roughly 9% of incremental bank credit during the period. Between January 2024 and January 2026, outstanding gold-backed credit rose by nearly Rs.3.1 lakh crore—an increase of about 338% over two years—more than quadrupling the size of the portfolio.
Two factors are driving the surge. First, gold prices have climbed roughly 152% over the past two years, increasing the collateral value of household holdings. Second, regulatory guidance requiring banks to classify loans secured by gold explicitly as gold loans has sharpened reporting and accelerated balance-sheet growth in the segment.
The trend highlights a distinctive feature of India’s financial system: households’ vast stock of physical gold, long viewed primarily as a store of wealth, is increasingly being mobilized as collateral for formal credit.
While personal lending and credit to nonbank financial companies within the services sector continue to expand rapidly, industrial credit remains uneven. Loans to micro, small and medium enterprises are growing steadily, but borrowing by large corporations has stayed relatively muted.
Since March 21, 2025, banks have added Rs.21.8 lakh crore to their non-food loan books, translating into 12% growth for the financial year to date. Yet it is gold—rather than factories or infrastructure—that is emerging as one of the most dynamic engines of India’s current credit cycle.
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