JB Insights
Joy Alukkas ranked 24th Richest Indian in Hurun India Rich List 2025
Joy Alukkas, Chairman & Managing Director of Joyalukkas Group, was ranked as the 24th Richest Indian in the prestigious Hurun India Rich List 2025. His net worth is a staggering Rs 88,430 crore.
The Hurun India Rich List is one of the most authoritative annual rankings of India’s ultra-high-net-worth individuals. The Hurun Rich List is an annual ranking of the wealthiest individuals in a country (or globally), compiled by the Hurun Research Institute. In India, the Hurun India Rich List highlights those with the highest net worth, capturing billionaires, emerging entrepreneurs, and influential families across industries. The list serves as an authoritative benchmark to measure individual and corporate financial success.Investors, policymakers, and analysts often refer to it to gauge economic trends and wealth concentration.
From a modest start in Thrissur, Kerala, Joy Alukkas has risen to become a global name in jewellery retail, steering his brand into one of the world’s most admired chains with a footprint spanning India, the Middle East, USA, UK, and the Far East.His nearly four-decade journey is a masterclass in vision, resilience, and innovation — proof that a dream backed by relentless effort can transcend borders. Industry peers hail his success as a proud milestone for India’s gems & jewellery sector, spotlighting the global credibility of home-grown brands.
Joy Alukkas has credited his success to customer trust, uncompromising quality standards, and his dedicated team, which has helped the brand become synonymous with trust, transparency, and trend-setting designs.
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.
Lesotho’s Kao Diamond Mine To Halt Operations Amid Industry Slump
MCX Gold Higher On Ceasefire Hopes, Crude Oil Price Dip
GIA To Open London Campus In August, Enrolling Students For Classes Beginning In August 2026
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
Treasures By Tiara Unveils Mumbai Flagship and Café Concept At Cumballa Hill
-
National News13 hours agoHarit Zaveri Jewellers Celebrates A Bride’s Royal Spirit In An Indian Wedding With Its New Polki Collection
-
GlamBuzz16 hours agoEkta Kapoor Turns Investor, Targets India’s $70 Billion Jewellery Opportunity With Ekatra Jewels
-
National News17 hours agoTreasures By Tiara Unveils Mumbai Flagship and Café Concept At Cumballa Hill
-
National News1 day agoGJC Addresses HUID Data Exposure Issue With BIS, Corrective Measures Are Currently Being Initiated
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.