National News
THE GEMS BEHIND OUR JEWELS
Gold is an integral part of our lives, more so in the lives of women. Considered auspicious, gold is part of every celebration – be it festivals or personal milestones. According to the World Gold Council, Indian women collectively own around 24,000 tons of gold, which accounts for about 11% of the world’s total gold reserves in jewellery form. It is only right to say India is the global leader in household gold ownership. The Oxford Gold Group’s report states that the Indian households have more gold than the combined reserves of the United States, the International Monetary Fund (IMF), Switzerland and Germany.
Vummidi Bangaru Jewellers has been serving the Indian community with authentic and aesthetically appealing gold jewels for 125 years, now. VBJ has been a benchmark for purity and trust for decades. Our remarkable growth story and undying patronage since the 1900 has been possible because of our quality, design and innovation in the jewellery space. Every piece of jewellery from VBJ is intricately crafted to bring out its true emotion with the purest of materials and finest craftsmanship. This has been possible because of the talented and focussed professionals of the VBJ team.
While VBJ is beyond gender classification among its team members, with women’s day round the corner, it is only right to celebrate and congratulate the women who have been instrumental for VBJ’s phenomenal growth.
We have a total of 254 women employees at VBJ – 233 in the retail and 21 in the creative centre. While it is our principle to value every employee, we are extremely proud of three women employees specifically who have spent decades with VBJ. Padmasri M has been with us for 42.08 years, Vanitha for 42.02 years and Latha S for 34.1 years. At this age and time, it is truly remarkable.
As of now, we have 8 women designers and all of them have been trained at National Institute of Fashion Technology (NIFT). In the earlier years, there have been several prominent women leaders who have made significant contributions to the brand, showcasing remarkable leadership and management skills in their respective roles like Vanitha, Latha, Revathi and Radha.
Vanitha handled the Anna Salai Silver branch, where she demonstrated her exceptional ability in managing both operational and customer service aspects of the business. As the order manager, Latha played a crucial role in streamlining the order management process. Revathi was responsible for overseeing the Anna Nagar branch, a position that required strong leadership and managerial expertise. Serving as the Billing Manager, Radha was pivotal in managing the financial transactions and ensuring smooth billing operations.
Specialised training programmes and growth
VBJ offers specialized training programs designed to enhance the technical and soft skills of their women professionals. The training focusses on leadership development, communication skills, technical training, and project management to ensure they are equipped to handle all departments of VBJ.
Women have equal access to all training programmes and career advancement opportunities. Our unbiased recruitment and promotion policies, focussing on merit and skills, are bringing more women to the team.
Woman power at VBJ
We have made considerable strides in increasing the female representation to reflect our commitment to diversity, equity and inclusion. In 2022, there was 130 women out of 584 employees, which increased to 166 (out of 748) the following year. This number escalated to 200 (out of 767) in 2024 and now it stands at 254 out of the total 847 employees. This has been possible because of focussed efforts to improve gender diversity, targeted recruitment initiatives, mentorship programmes, implementation of policies promoting work-life balance and inclusive development for women.
In line with the theme of International Women’s Day 2025 – Accelerate Action – VBJ is working towards the continued upward trend in women participation and growth. We are strongly committed to fostering an environment where women feel valued and empowered in their roles at VBJ. At the helm, 5th generation women entrepreneurs from the VBJ family having started pouring in their creativity and fresh thoughts.
The Future of Women in Jewellery
The presence of women in the jewellery industry is not just growing—it is shaping its very foundation. Brands that actively foster gender inclusivity witness not only stronger business performance but also richer, more meaningful creations that resonate with a diverse audience. As we look ahead, the contributions of women in jewellery will continue to accelerate change – whether as designers reimagining aesthetics, artisans preserving age-old techniques, retail professionals enhancing customer experiences, or leaders driving sustainable business practices, their role is indispensable. On this International Women’s Day, let’s celebrate the true gems behind the jewels—the women who craft not just ornaments, but legacies that shine beyond brilliance.
National News
Bullion Trends 2026: GJC Calls For Balanced Policy and Consumer-Friendly Reforms
Peaks In Gold and Silver Prices, Taxation Challenges, and Evolving Design Preferences Mark The First Half Of The Year.
The All India Gem & Jewellery Domestic Council (GJC) today released its half-yearly review of the gold and silver market for 2026, noting that the first six months of the year were marked by historic peaks in bullion prices, followed by corrections that reshaped consumer sentiment and industry outlook. The Council emphasized that taxation changes, customs duty hikes, and global geopolitical tensions have been the defining factors of the year so far, while evolving consumer preferences and policy reforms will play a crucial role in the months ahead.
Gold prices peaked at Rs. 1,70,480 per 10 grams in January 2026, before correcting to around Rs. 1,42,800 per 10 grams by late June 2026. Silver too witnessed a dramatic surge, crossing Rs. 4,02,490 per kilogram in January 2026 — its first time above the Rs. 4 lakh mark — before easing to the Rs. 2,25,940 per kilogram range by late June 2026.
These fluctuations created both opportunities and challenges: while investors flocked to gold as a safe-haven, jewellery demand softened due to affordability pressures. The Council observed that customers are increasingly turning toward lightweight jewellery designs, reflecting both budgetary considerations and changing fashion sensibilities.
Policy developments added further complexity to the market. The increase in customs duty announced in May 2026 pushed domestic prices higher and weighed on retail demand. GST burden and compliance requirements continued to challenge margins, prompting calls for rationalization. At the same time, GJC reiterated its advocacy for reforms in the Gold Monetisation Scheme, which it believes can unlock the value of idle household gold, reduce import dependency, and strengthen domestic supply chains.
Global factors have also played a decisive role. Ongoing conflicts in the Middle East and broader geopolitical instability have heightened volatility, while the depreciation of the Indian rupee against the US dollar added pressure on domestic prices. Inflationary trends and central bank diversification into gold reserves further underlined the safe-haven appeal of the metal, even as corrections set in after the initial peaks.
Adding to this perspective, Rajesh Rokde, Chairman of GJC, commented:

“The correction in bullion prices during late June reflects a natural adjustment after extraordinary highs. Gold futures settled around Rs. 1,42,800 per 10 grams, while silver eased to the Rs. 2,25,990 per kg range after crossing Rs. 4,00,000 earlier this year. These shifts are driven by profit-taking, a stronger US dollar index, and expectations of prolonged high interest rates globally. Global sentiment has also shifted as safe-haven demand eased after recent geopolitical panic cooled.
While futures saw a meaningful drop, retail prices have remained elevated, with 24K gold continuing to trade around Rs. 14,250– 14,400 per gram through late June this year. This shows the market is adjusting rather than collapsing. Looking ahead, the upcoming festive season and the peak wedding calendar in the second half of the year are expected to provide strong support to jewellery demand, particularly in lightweight categories. These cultural drivers, combined with India’s deep emotional connect with gold, will ensure that despite volatility, the market remains resilient.”
Avinash Gupta, Vice Chairman of GJC, added:
“Gold remains an integral part of Indian households, but affordability pressures are real. The next six months will depend heavily on geopolitical stability and government policy, particularly in the context of customs duty and taxation. Excessive duties risk encouraging unofficial channels, which hurts consumers and weakens the trade. We urge policymakers to balance revenue needs with industry sustainability, ensuring that reforms strengthen rather than strain the sector.

At the same time, the Gold Monetisation Scheme offers a long-term solution by mobilising idle household gold, reducing import dependency, and reinforcing India’s economic resilience. Consumers are adapting with lightweight jewellery designs, while investors continue to view gold as a safe-haven. The industry stands ready to collaborate with the government so that national interest, consumer welfare, and market stability move forward together.”
Looking ahead to the second half of 2026, GJC expects bullion prices to remain volatile, with possible consolidation after recent corrections. Jewellery demand is expected to remain subdued, though the festive season could revive sales, particularly in lightweight categories. The industry awaits clarity on reforms to the Gold Monetisation Scheme and potential tax adjustments, while geopolitical risks remain a key factor that could trigger renewed safe-haven demand.
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