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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

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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.

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JB Insights

V.K.  Jewels: Building trust through consistency, precision and customer-centricity

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Industry leader in precision gold manufacturing, V.K. Jewels is renowned for pioneering “paper casting” technology. They specialize in CZ-studded gold jewellery that marries grand aesthetics with lightweight efficiency. By integrating AI-driven design and a robust B2B network, V.K. Jewels offers retailers a competitive edge through consistent quality and trend-forward innovation. Witness the journey of a brand built on trust and technological excellence.

The Beginning, Evolution, Milestones

V.K. Jewels was founded in 1993 in Rajkot by Vijay Kotak with limited resources but a strong vision — to bring quality craftsmanship, reliability, and trust to the jewellery manufacturing space. Starting with silver casting, the company gradually built trust through consistency, precision, and customer-centricity.

With Hiren Kotak entering the business, key milestones included the transition into CZ-studded gold jewellery, expansion into plain gold casting, adoption of lightweight and paper casting techniques, and building a strong B2B dealer network across India.

Today, V.K. Jewels stands as one of the biggest casting jewellery manufacturers in India, known for paper-casting jewellery, innovation, volume capability, and market responsiveness.

Early Challenges & Growth Strategy

In the early 90s, the jewellery market was highly competitive, fragmented, and dominated by traditional players. Limited capital and evolving market preferences posed challenges.

Visionary decisions such as focusing on manufacturing excellence, investing in modern casting technology, and building long-term dealer relationships helped V.K. Jewels scale rapidly. A strong emphasis on lightweight jewellery and consistent superior quality enabled the brand to differentiate itself and become one of India’s leading manufacturers.

Product Offering

Core Product Lines

V.K. Jewels offers a wide range of CZ-studded jewellery and plain gold casting jewellery, including rings, pendants, earrings, bangles, bracelets, chains, and bridal sets.

The collections cater to multiple segments — from mass-market daily wear to premium bridal and festive jewellery — enabling retailers and wholesalers to serve diverse customer needs efficiently.

Portfolio Expansion Beyond Silver

Starting from silver casting, V.K. Jewels expanded into gold casting and CZ jewellery to meet evolving consumer demands for affordability, design variety, and lighter weight.

The portfolio now supports both wholesale and corporate brands of India with ready-to-sell designs, fast-moving collections, and trend-driven styles suited for modern consumers.

Top-of-the-Line Products

Flagship Products – Strong Visual Appeal

V.K. Jewels’ lightweight CZ-studded necklaces, daily wear rings, and earrings are among its top performers. These products are preferred by high-end wholesalers, retailers, and corporates due to their excellent finishing, competitive pricing, fast inventory turnover, and strong visual appeal.

The use of paper casting ensures reduced gold weight without compromising on design aesthetics.

Bestseller Highlights

The bestselling categories include CZ-studded necklace sets and rings, known for their rich look, lightweight structure, and durability. Customers appreciate their premium finish, long-wear comfort, and excellent value proposition, making them a favourite choice for wedding and festive purchases.

Design Innovation & Quality

Ensuring Innovation & Quality

V.K. Jewels continuously invests in design research, CAD development, and market trend analysis. A dedicated design team works closely with production to ensure every piece meets modern style expectations while maintaining high manufacturing standards.

Rigorous quality checks at every stage ensure precision and durability.

Quality Assurance & Ethical Practices

The company follows strict quality control processes, including material verification, multi-stage inspections, and standardised finishing protocols.

Ethical sourcing and responsible manufacturing practices reinforce brilliance, durability, and trust.

Network of Wholesalers & Retailers

Distribution Network

V.K. Jewels has built a strong nationwide distribution network with wholesalers, retailers, and corporate brands across major jewellery hubs.

Supporting the Network Amid Rising Gold Prices

With rising gold prices, V.K. Jewels supports partners through lightweight designs, paper casting innovations, competitive pricing, faster stock rotation, and consistent supply.

This enables retailers to maintain margins while offering attractive, high-demand products.

Plans for Growth & Expansion

Short-Term & Long-Term Strategies

Short-term plans include expanding the dealer network and introducing new trend-aligned collections.

Long-term strategies focus on scaling exports, entering international markets, expanding product categories, and strengthening global brand visibility.

Scaling Manufacturing Capacity

The company is investing in expanded infrastructure, modern machinery, and skilled manpower to enhance production capacity while maintaining quality and timely delivery.

Continuous process optimisation ensures scalability without compromising craftsmanship.

Technology, AI & Automation Integration

V.K. Jewels integrates advanced CAD/CAM technologies, automation in casting and finishing, and digital quality control systems.

The adoption of AI-driven design analysis, demand forecasting, and production planning tools enhances efficiency, accuracy, and operational optimisation.

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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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