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Joyalukkas to Supply 1-Gram Gold Rings to 4.41 Lakh Newborns Under Tamil Nadu Government’s “Thai Maman Thanga Mothiram” Scheme

Joyalukkas to supply 1-gram gold rings to 4.41 lakh newborns under the Tamil Nadu Government’s welfare scheme

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Joyalukkas, one of India’s most trusted jewellery retail brands, has been selected as the L1 bidder for the Government of Tamil Nadu’s “Thai Maman Thanga Mothiram Thittam” scheme, under which 441,667 newborn babies will receive 1-gram gold rings.

The scheme covers newborn babies delivered in Government hospitals in Tamil Nadu. The initiative will cover eligible newborns from June 22, 2026, until the end of the current financial year.

Under the tender, Joyalukkas quoted a symbolic service charge of just 1 paisa above the prevailing gold rate. The quote covers the supply of the gold rings along with applicable making charges and associated costs, with Joyalukkas offering the service at virtually no profit. The cost of the gold will be borne by the Government of Tamil Nadu at the prevailing market rate.

The tender is valued at approximately ₹755 crore, with the gold component forming the major part of the overall procurement value. Joyalukkas’ 1-paisa quote reflects the company’s commitment to supporting the Government of Tamil Nadu’s welfare initiative rather than pursuing commercial margins from the programme.

The “Thai Maman Thanga Mothiram Thittam” is a welfare initiative aimed at providing a 1-gram gold ring to eligible newborn babies as a gesture of care, prosperity and social support. By extending the benefit to babies born in Government hospitals, the scheme seeks to support families accessing public healthcare across the state.

Commenting on the selection, Joy Alukkas, Chairman and Managing Director, Joyalukkas Group said:

“We are honoured to be associated with the Government of Tamil Nadu’s Thai Maman Thanga Mothiram Thittam. This is a meaningful initiative that touches the lives of thousands of families across the state. Our decision to quote just 1 paisa above the prevailing gold rate reflects our commitment to contributing to this important welfare programme without seeking additional commercial margins. We will ensure that every ring supplied meets the highest standards of purity, quality and hallmarking.”

With a strong presence across Tamil Nadu and decades of expertise in jewellery manufacturing and retail, Joyalukkas is well positioned to execute this large-scale supply efficiently and with the highest standards of quality and transparency.

The official work order is expected to be issued shortly, following which Joyalukkas will commence the supply of rings in coordination with the concerned Government departments.

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National News

Gold and Silver Futures Open Higher Amid Volatility In Currency and Bond Markets.

Strong Investment Demand and Continued Gold Buying By Central Banks, Especially China’s Central Bank, Further Supported Prices.

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Gold and silver futures opened higher on Friday as investors turned to safe-haven assets amid volatility in currency and bond markets.

Gold futures opened higher on MCX. The benchmark October gold contract opened at Rs 1,60,630 per 10 gram, up Rs 1,205 from the previous close of Rs 1,59,425.

Silver futures also opened higher. The benchmark September silver contract on MCX opened at Rs 2,44,988 per kg, up Rs 1,745 from the previous close of Rs 2,43,243.

Rising crude oil prices, following the US move to impose wider sanctions on Iran, also raised concerns about inflation. Strong investment demand and continued gold buying by central banks, especially China’s central bank, further supported prices.

In global markets, gold was trading near $4,590 per ounce on Comex, while silver was around $69 per ounce. On MCX, gold futures were near Rs 1,59,700 per 10 grams and silver futures around Rs 2,44,600 per kg at the time of writing.

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