National News

THE GEMS BEHIND OUR JEWELS

Published

1 year ago

March 7, 2025

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, 5^th 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.

Related Topics:2025 Gold nationalnews NIFT VBJ

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National News

India Gold Conference 2026: India Gold Vision: Recycle, Reform & Re-Innovate

The future of India’s gold market, the conference made clear, will depend not merely on how much gold India owns, but on how efficiently that gold can be recycled, monetised and put to productive use.

Published

4 hours ago

August 29, 2026

JewelBuzz Spread The Buzz

The India Gold Conference (IGC) 2026, held in Goa under the theme “India Gold Vision: Recycle, Reform & Re-Innovate,” brought together policymakers, regulators, bullion banks, refiners, exchanges and jewellery-industry leaders to examine how India can build a more efficient, transparent and technology-driven gold ecosystem.

The inaugural session was graced by presence of Guest of Honour Richa Goel Agarwal, Chief General Manager, SEBI along with Sachin Jain, Regional CEO – India, World Gold Council , Prithviraj Kothari, National President, IBJA, Rajesh Rokde, Jignesh Shah, Mentor and Coach, IGM, Chairman-GJC, Samit Guha, MD- & CEO, MMTC-PAMP, Shivanshu Mehta, Head- Bullion and Chief Business Officer- MCX. Representing the organizer Eventell Global Advisory was Srivatsava Ganapathy, Director & CEO.

The panel sessions at India Gold Conference 2026 covered the key structural and strategic priorities shaping India’s gold market. Some of the sessions were: Making GMS Work, Strengthening Trade with Dubai Bullion Market, Exchange-based Spot Trading in Bullion, Meeting All Our Requirements for Jewellery Demand from Buy-Back of Old Gold Jewellery, Import Substitution Opportunities in Gold Investment Demand, and AI Use Cases in the Bullion Business.

A key focus was the future of the Gold Monetisation Scheme (GMS) and its potential to mobilise India’s large above-ground gold holdings, reduce dependence on imports and help contain the current account deficit (CAD).

Making GMS Work

An expert panel agreed that the GMS needs greater participation from the jewellery trade if it is to achieve meaningful scale. The discussion highlighted the role of RBI, SEBI and industry bodies in shaping the modified GMS and stressed the need to make gold deposits more liquid, transferable and commercially useful.

Among the proposals discussed was the possibility of tokenising GMS holdings, allowing investors greater liquidity and transferability. Converting GMS holdings into Electronic Gold Receipts (EGRs) could also enable gold to be used as collateral for borrowing.

However, taxation remains a significant concern for deposit-taking institutions, with the panel noting that uncertainty around tax treatment continues to act as a deterrent to wider participation.

Technology at the Core

The conference placed strong emphasis on technology as an enabler of gold-market reform. In his keynote, Jignesh Shah, Mentor & Coach, India Gold Metaverse, argued that traceability, transparency and trust must be integrated through technology.

He highlighted blockchain, asset fractionalisation and digital platforms as potential tools to broaden retail participation and create new avenues for gold investment, while also envisioning India as a potential leader in gold-backed financial ecosystems.

GoldSense™ Launched

IGM also unveiled GoldSense™, an AI-powered enterprise solution designed for non-destructive gold verification. The portable karatometer is designed to assess gold to depths of up to 7 mm, using AI-driven analysis without damaging the asset or relying on harmful X-ray radiation.

Priced at Rs 5 lakh per unit, the technology is positioned as a tool for more standardised, connected and data-driven gold evaluation.

Building a Spot Gold Market

Another major discussion centred on exchange-based spot trading in bullion. Industry leaders stressed that a liquid spot market is essential to modernise India’s bullion ecosystem, strengthen price discovery and support the country’s growing digital-gold market.

The panel also called for policy changes, particularly addressing double GST taxation and GST offset mechanisms. Collaboration between IBJA and IGM was cited as part of ongoing efforts to strengthen spot-price discovery.

Recycling Gold to Meet Demand

The conference also examined the potential of old-gold buybacks to meet a greater share of India’s jewellery demand without relying entirely on fresh imports. Gold recycling was positioned as a critical component of India’s long-term strategy to improve supply security and reduce import dependence.

Sessions additionally explored gold leasing, import substitution in investment demand, electronic gold receipts, Dubai bullion-market linkages and AI applications in bullion businesses.

The Bigger Picture

The discussions at IGC 2026 underscored a broader shift in India’s gold policy—from simply managing imports towards building a formal, liquid, technology-enabled and recyclable gold ecosystem.

For the GMS to fulfil its original promise, however, the message from the conference was clear: participation must extend beyond banks to jewellers and consumers, while liquidity, taxation, transferability and technology must be addressed together.

If these structural barriers are resolved, monetising India’s existing gold stock could become an important source of domestic supply, reduce reliance on imports and contribute to a more efficient gold market—and potentially help moderate the country’s CAD.