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THE GEMS BEHIND OUR JEWELS

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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.

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National News

Malabar Gold & Diamonds Supports Prime Minister Narendra Modi’s Appeal On Gold; Submits Proposal To Strengthen Gold Monetisation Scheme

Encourages Recycling, Reuse, and Circulation Of Existing Gold Within India As A Responsible National Priority

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Malabar Gold & Diamonds has submitted a comprehensive proposal to the Government of India recommending strategic enhancements to the Gold Monetisation Scheme (GMS), expressing its wholehearted support to Prime Minister Narendra Modi’s appeal on responsible gold consumption and the need to strengthen India’s economic resilience through better utilisation of domestic gold resources.

The proposal, submitted by M.P. Ahammad, Chairman, Malabar Group, to Hon’ble Finance Minister Smt. Nirmala Sitharaman and Hon’ble Commerce & Industry Minister Shri Piyush Goyal, outlines practical measures aimed at increasing public participation in GMS, mobilising idle gold into the formal economy, and encouraging greater recycling, reuse, and circulation of existing gold within India.

India imports nearly 700–800 tonnes of gold annually, resulting in significant foreign exchange outflows and pressure on the current account deficit. At the same time, Indian households and institutions are estimated to hold nearly 25,000–35,000 tonnes of gold in the form of jewellery, coins and bars, much of which remains economically idle.

Malabar Gold & Diamonds stated that greater focus on recycling, exchange, reuse, and monetisation of existing domestic gold can play an important role in reducing import dependency, limiting dollar outflow, and strengthening the Indian economy over the long term.

Commenting on the proposal, M.P. Ahammad, Chairman, Malabar Group, said: 

“India possesses one of the world’s largest privately held gold reserves while continuing to rely significantly on imports to meet domestic demand. We wholeheartedly support the Hon’ble Prime Minister’s appeal and believe that encouraging responsible utilisation, recycling, and circulation of existing gold within the country is an important national priority. With appropriate policy support and active integration of the organised jewellery sector, the Gold Monetisation Scheme can emerge as a highly effective mechanism for mobilising idle gold into the formal economy.”

The proposal notes that while the Gold Monetisation Scheme was introduced to reduce import dependence and monetise idle domestic gold holdings, public participation remained limited due to longer lock-in periods, lower perceived returns, limited redemption flexibility, and procedural challenges.

To improve effectiveness and adoption of the scheme, Malabar Gold & Diamonds has recommended:

  • Integration of organised jewellers into the GMS framework under regulatory oversight
  • Reduction in minimum deposit quantity from 10 grams to 1 gram
  • Flexible redemption options in either gold weight or cash
  • Lower lock-in periods and improved liquidity options
  • Simplified Aadhaar-based e-KYC procedures
  • Customer incentives through jeweller participation, including loyalty-linked benefits
  • Improved transparency in purity testing, valuation, and refining
  • Consideration of GST waiver on gold brought back into the formal system
  • Alignment of GMS with Gold Metal Loan (GML) frameworks for better utilisation within the industry

The proposal also recommends a jeweller-assisted collection and facilitation framework operating under bank and regulatory supervision, with digital tracking systems and transparent processing mechanisms to improve customer confidence and operational efficiency.

According to the proposal, mobilisation of even 1–2% of India’s domestic gold holdings could potentially release nearly 600–700 tonnes of gold into circulation, equivalent to a substantial portion of the country’s annual gold import demand.

Malabar Gold & Diamonds believes that encouraging recycling, reuse, exchange, and monetisation of existing gold within India can become a meaningful economic lever for the country. The company stated that a stronger and more accessible Gold Monetisation Scheme can help reduce import dependence, lower foreign exchange outflows, improve circulation of domestic gold resources, and contribute towards building a more resilient and self-reliant economy in line with the Hon’ble Prime Minister’s vision.

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