National News
Joyalukkas Foundation Hands Over 50 ‘Joy Homes’ to Underprivileged Families in Karnataka
Joyalukkas Foundation handed over 50 newly constructed ‘Joy Homes’ to underprivileged families across Karnataka as a step toward improving the living conditions of marginalised communities. The initiative, part of the Foundation’s ongoing “Joy Homes” project, was formally marked by a key handover ceremony held at the NIMHANS Convention Centre in Bengaluru.
The ceremony was presided over by Dr. Joy Alukkas, Chairman of the Joyalukkas Group, and attended by prominent dignitaries including Mohammed Rihan Nawab (CEO, Emmar Properties), Mohammed Rizwan Nawab (Vice Chairman, KSRTC), Chetan Kumar Mehta (President, Jeweller’s Association, Bengaluru), and Thomas Mathew (Executive Director, Joyalukkas).
The Joy Homes initiative is rooted in the Foundation’s broader commitment to addressing basic human needs through sustainable and inclusive development efforts. Each of the homes, measuring 500 square feet and built at a cost of ₹7.5 lakh, aims to offer not just shelter, but also dignity, safety, and stability to those often left at the margins of society. Beneficiaries of the scheme include families affected by poverty, natural disasters, chronic illness (such as Endosulfan exposure), and disability.
With the latest addition in Karnataka, the total number of homes provided under the Joy Homes initiative has risen to 414 across Kerala, Tamil Nadu, and Karnataka. In a further expansion of the programme, the Foundation also announced a new project to build 50 additional homes in Telangana, extending the reach of its housing efforts across South India. Since its inception in 2009, the Joyalukkas Foundation has focused its Corporate Social Responsibility (CSR) activities on areas such as healthcare access, education, elder care, and women’s empowerment, prioritising interventions that address systemic gaps in underserved communities. Its healthcare initiatives include the monthly distribution of over 1,000 dialysis kits in Kerala, the donation of dialysis machines, the renovation of hospital wards, and ongoing support for palliative care and blood donation drives.
During the COVID-19 pandemic, the Foundation supported the education of over 300 children who lost a parent through scholarships under its “Joy of Hope” programme. In Thrissur, Kerala, the Foundation also operates a senior citizen care facility that includes a dialysis centre, palliative care unit, and other specialized services. Additionally, through vocational training in beautician skills and tailoring, over 200 women have been equipped with the means to achieve financial independence. The Joy Homes project reflects the Foundation’s belief that stable housing is a fundamental step toward social upliftment. By addressing a core need, it enables vulnerable families to focus on rebuilding their lives, accessing opportunities, and securing a better future.
National News
Gold Exchange Schemes See Surge In Demand
Nearly 25% Of All Jewelry Buyers Now Opt For Exchange Programs Instead Of Outright Cash Purchases
In 2026, India’s retail gold sector is witnessing a significant paradigm shift. Driven by a combination of macroeconomic factors and strategic government appeals, gold exchange schemes have emerged as a dominant trend. Nearly 25% of all jewelry buyers now opt for exchange programs instead of outright cash purchases, marking a substantial increase from previous years.
Key Drivers of the Exchange Trend
1. Record-High Gold Prices
The primary economic catalyst for this shift is the unprecedented surge in gold prices. As fresh gold becomes increasingly expensive, consumers are unlocking the value stored in their existing assets rather than stretching their liquid capital to make new purchases.
2. Government Advocacy and Import Reduction
The trend is heavily backed by national policy interests. Prime Minister Narendra Modi has actively appealed to the public to utilize old jewelry for new purchases rather than buying fresh gold. The strategic goal behind this initiative is to curb India’s massive gold imports, thereby strengthening the current account deficit and stabilizing the national economy.
3. Aggressive Jeweler Incentives
Jewelers have rapidly adapted to consumer demand and government alignment by lowering the barriers to entry for exchanges.
Two major policy shifts are driving this retail adoption:
- Zero-Deduction Exchange Schemes: Traditional penalties and melting losses that previously deterred consumers from exchanging gold are being eliminated.
- Relaxed Documentation & Purity Standards: Retailers are now accepting old gold sourced from any jeweler starting at a purity level as low as 9KT, even without original purchase bills.
Market Implications
The 25% Threshold: The fact that a quarter of all jewelry buyers are now choosing exchange programs signifies that gold recycling is no longer a niche or distress-driven activity; it has entered the mainstream consumer behavior matrix.
- For Consumers: This shift provides a highly liquid, cost-effective way to upgrade designs and maintain asset value without facing heavy financial hits or bureaucratic hurdles (like tracking down decades-old receipts).
- For the Economy: By circulating existing domestic gold back into the supply chain, India reduces its reliance on international bullion markets, directly answering the government’s call for macroeconomic resilience.
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