JB Insights
Indian Gold Industry announces ‘Indian Association for Gold Excellence and Standards’ (IAGES)
IAGES is self-regulatory organization (SRO) for the Indian gold industry, by the Indian gold industry that is supported by the WGC
The Indian gold industry has today announced the formation of the Indian Association for Gold Excellence and Standards (IAGES – pronounced as I-AAY-GES), a self regulatory organisation (SRO) created by the Indian gold industry, for the Indian gold industry and supported by the World Gold Council.
IAGES will aim at increasing consumer confidence and enhancing trust in the Indian gold industry through encouraging adoption of fair, transparent and sustainable practices, regulatory compliance, establishing code of conduct and introducing an audit framework – created by the Indian gold industry, for the Indian gold industry across the entire industry value chain. It will be inspired by the World Gold Council’s Retail Gold Investment Principles IAGES will aim to give gold providers a detailed set of best practices and a road map for implementing them.
IAGES will be formed by national industry associations including Indian Bullion and Jewellers Association (IBJA), All India Gems and Jewellery Council of India (GJC) and Gem and Jewellery Export Promotion Council (GJEPC) and supported by the World Gold Council.
IAGES logo represents coming together of various stakeholders of the Indian industry for the greater good of the gold industry and colour red denotes purity, commitment and represents India’s warm diversified culture.
IAGES will be independently governed and professionally managed. The Code of Conduct created by it will be available for everyone from the industry, however, its adoption will be entirely voluntary. The registrations for IAGES membership will be announced soon and the organisation will be operational by early 2025.

Sachin Jain, Regional CEO, India, World Gold Council, said, “The gold industry is integral to the Indian economy, contributing approx. 2% to Indian GDP and 3-5mn in employment. The World Gold Council has been promoting a need for creating a Self-regulatory organisation to promote adoption of best practices. The launch of IAGES marks a pivotal step towards enhancing trust for the Indian gold industry. Self-regulation will help empower stakeholders to build a sustainable and trusted gold market. We at the World Gold Council are fully committed to supporting IAGES. It is a unique initiative and global gold industry will be watching it, it should help propel India’s gold market to global prominence.”
Vipul Shah, Chairman, Gem and Jewellery Export Promotion Council (GJEPC), said, “The formation of IAGES is a landmark achievement for the Indian gold industry. It underscores our collective commitment to establishing the highest standards of ethics, transparency, and sustainability. By creating a self-regulatory body, we are taking a proactive step to build trust and confidence among Govt., consumers, investors, and international stakeholders in the Indian gem & jewellery industry. IAGES will not only strengthen India’s position as a global gold hub but also drive innovation and growth within the industry.


Saiyam Mehra, Chairman, All India Gems and Jewellery Council of India (GJC); “All India Gem & Jewellery Domestic Council is honoured to be associated with the IAGES. IAGES is surely the need of the hour, and this collaboration represents a significant step towards advancing the standards of excellence and transparency within the gold industry in India.
Prithviraj Kothari, National President, India Bullion and Jewellers Association (IBJA); “The establishment of IAGES marks a significant milestone for the Indian gold sector, showcasing our united dedication to upholding the highest standards of integrity, transparency, and sustainability. Through the creation of a self-regulating entity, we are proactively fostering trust and confidence among governmental bodies, consumers, investors, and international partners within the Indian gem and jewellery domain.

JB Insights
The New Jewellery Shopper: Why Trust Is Becoming The New Retail Currency
As Shoppers Arrive More Informed and Digitally Connected, Jewellery Retailers Are Shifting From Product-Led Selling To Trust-Led Experiences, Where Transparency, Personalisation and Confident Decision-Making Shape The Path To Purchase.
As jewellery consumers become more informed and value-conscious, retailers are discovering that the path from interest to purchase is increasingly shaped by trust, transparency and the quality of the buying experience.
There was a time when a customer walked into a jewellery showroom with a fairly simple expectation: find something beautiful, understand the price and make a purchase.
That equation is changing
The modern jewellery shopper may enter the store only after days or even weeks of digital research. Designs have already been compared, prices explored, brands evaluated and customer reviews considered. By the time the customer meets a salesperson, much of the discovery process may already have taken place online.

What remains is the more difficult part — making the customer feel certain.
This shift is quietly changing the dynamics of jewellery retail. The competitive advantage is no longer determined only by inventory, location or design assortment. Increasingly, it lies in how effectively a retailer can remove doubt and create confidence during the buying journey.
A Customer Who Arrives Informed
The jewellery customer of today is far more exposed to information than previous generations. Social media, brand websites, digital catalogues and online communities have made it easier to compare designs, materials, prices and brands before making a showroom visit.
But information does not always create certainty.
In fact, having too many choices and too much information can sometimes make the final decision more difficult. A customer may know exactly what they like but still hesitate over whether it represents the right value, the right style or the right long-term choice.
That gap between information and confidence is where the modern jewellery retailer increasingly has to operate.
The Retail Conversation Is Changing
The traditional sales conversation often begins with the product: its weight, design, stones, craftsmanship and price.
The emerging approach begins with the customer.
Why is the jewellery being purchased? Where will it be worn? What style does the customer normally choose? Is versatility important? What level of investment feels comfortable?

These questions can transform the interaction from a product presentation into a consultative buying experience.
For retailers, this requires sales teams to do more than know their inventory. They need to understand how to listen, curate and recommend.
Trust Has Become Part of the Product
A beautifully designed piece can attract attention, but uncertainty can stop the transaction.
Questions around making charges, gemstone valuation, diamond quality, exchange policies and long-term usability can influence the final decision.
This is why transparency is increasingly becoming a retail differentiator.
When the customer understands the components behind the price and the value attached to the product, the conversation becomes less about defending the price and more about explaining the value proposition.
The Digital Storefront Comes First
For many consumers, the first interaction with a jewellery brand does not happen inside a showroom.
It happens on a smartphone.

Instagram posts, websites, search results, influencer content, reviews and digital campaigns collectively create the first impression. By the time the customer walks into a store, the brand may already have been evaluated against several competitors.
This makes the digital presence an extension of the physical retail experience.
A retailer that promises premium craftsmanship offline but communicates inconsistently online creates a gap in customer confidence.
More Choice Does Not Always Mean More Conversion
Jewellery retailers have traditionally used extensive collections as a way of demonstrating scale and choice.
Yet an overwhelming assortment can create another problem: decision fatigue.
Curated selections based on occasions, lifestyles, price ranges and design preferences can help customers navigate the assortment more comfortably.
The role of the retailer is therefore gradually shifting from showing everything to showing what matters.
The Conversation Continues After the Customer Leaves
One of the most significant opportunities in jewellery retail may begin after the showroom visit.

A customer who leaves without purchasing is not necessarily a lost customer. They may still be comparing options, discussing the purchase with family or simply taking time to decide.
A personalised follow-up featuring shortlisted designs, availability information, new arrivals or relevant styling suggestions can keep the conversation alive without turning it into aggressive selling.
The objective is simple: remain relevant while the customer is still making the decision.
Retail’s Next Competitive Advantage
The jewellery industry is entering an environment where customers can access more information than ever before. This makes the role of the retailer more important — not less.
The winning retail experience will increasingly depend on the ability to combine product expertise with transparency, technology with human interaction, and choice with curation.
Jewellery will always be emotional. But the journey towards owning it is becoming increasingly rational. In that journey, trust may become one of the most valuable assets a jewellery retailer can build.
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