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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

RiaceWax AUTOMATIC BELT SYSTEM INTUITIVE: Innovation. Precision. Productivity

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Riacetech Srl is a dynamic and technologically advanced company. It focuses its core business on the creation of innovative wax injectors, fully controllable and programmable. It provides all the companies in the casting industry with a wide range of totally automatic and certified machines, all with different functionalities and configurations, that are suitable for Industry 4.0 and meet all the needs of the jewellery and fashion accessories world. It also provides a wide variety of consumable products.

The RiaceWax AUTOMATIC BELT SYSTEM INTUITIVE injector belongs to the Intuitive line and retains all its features; it can inject up to 20 molds of different sizes at the same time by loading them automatically and speeding up the entire production process thanks to the self-centering function on the molds of different sizes; it can create light and very thin objects, maintaining their weight over time. 

Fully controllable from a 10.1” industrial PC, it can double the standard daily production, realising up to 4800 pieces in 8 hours, injecting moulds of very different sizes with the help of only one operator and reducing the number of defective waxes.

An Android tablet is the control unit of both the machine and the loading system, with specially developed apps that also allow checking statistics and productivity. Thanks to the ability to connect remotely, it is compatible with Industry 4.0.

It is equipped with a transparent melting tank with a constant vacuum system, digital sensors to control the pressures that always allow for checking the graphs of the vacuum trend on the molds during injection from the tablets, an RFID reader, a TC-700 cooler, a 16-cmc injection syringe with final temperature regulation and a self-centring clamp with 120x90mm plates.

This machine is designed to accommodate a versatile range of mould sizes, supporting dimensions from a minimum of 50 x 30 x 12 mm up to a maximum of 120 x 90 x 47 mm. The unit itself weighs 75 kg with a physical footprint of 130 x 72 x 53 cm.

Alessio Farnetani, Sales Manager-RiaceWax, underscoring the USP, said, “This machine works without any downtime and reduces errors. There has been a good response from Indian jewellery manufacturers because this system speeds up production, maintains quality and ensures weight consistency, which is critical given rising prices of gold.”

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