National News
Van Mahotsav at IIG: A Celebration Rooted in Nature and Creativity
The International Institute of Gemology (IIG) celebrated Van Mahotsav, India’s annual festival of trees with a deeply symbolic and immersive experience, blending environmental consciousness with the spirit of design and innovation. Observed across the country to raise awareness about the importance of trees and ecological balance, Van Mahotsav resonates strongly with IIG’s ethos: nurturing talent in an industry born from nature, shaped by creativity, and sustained by responsibility.
At its core, jewellery design is an art form inspired by the elements, from the brilliance of gemstones formed deep within the earth to motifs drawn from leaves, flowers, skies, and oceans. IIG, as an institution that shapes future custodians of the gem and jewellery world, believes that nature is not only a muse, but also a mentor. Trees, like education, take time to grow; they require care, nurturing, and a strong foundation. Both leave legacies, both shape futures.

The celebration began with a thoughtful address by Ms. Gunjan Sapra, COO & Head of Department of Jewellery Design, who set the tone with a powerful message: “Nature is not only our life source; it is also our deepest source of inspiration. Every branch, every bloom, every element of nature holds within it a design story waiting to be discovered.” Her words served as a reminder that when students observe nature with sensitivity and awareness, they open doors to creative expression that is meaningful, rooted, and responsible.
In his address, Mr. Rahul Desai, CEO & Managing Director of IIG, emphasized the role institutions and individuals play in shaping a sustainable future. “It is the responsibility of every individual and every organization to do their best for the environment. Every chance we get is an opportunity, to rethink, to act, and to contribute meaningfully. At IIG, we are committed to this philosophy not just in thought, but in practice.”

He highlighted IIG’s shift towards sustainable practices; from digitizing brochures and course materials to minimizing plastic use across campuses, and reiterated the institute’s long-term commitment to environmental stewardship through its curriculum, infrastructure, and values.
A highlight of the event was the Nature-Inspired Jewellery Design Competition, where students translated the beauty and symbolism of the natural world into striking pieces of wearable art. From leaf motifs to flora-fauna compositions, the entries reflected a deep reverence for nature and an acute understanding of form, balance, and symbolism. The winning piece, a breathtaking necklace by Ms. Kritika Jiwnani, inspired by the Aurora Borealis, used Alexandrite to mimic the northern lights, capturing not only the aesthetics of nature but also its mystery and magic.
The campus was transformed into a visual celebration of Van Mahotsav as students curated and decorated soft boards with themes centered on sustainability, biodiversity, and forest life. These creative expressions became storytelling walls, echoing messages of conservation, harmony, and purpose.
The celebration closed with a tree plantation drive and a green gift for each participant, a symbol of growth and responsibility. For IIG, Van Mahotsav is more than a tradition; it’s a reflection of its core belief, that true brilliance is rooted in purpose. In shaping tomorrow’s jewellery professionals, the institute champions not just design excellence, but environmental integrity.
National News
Smuggled Gold Distorting India’s Bullion Market
Sharp Rise In Smuggled Gold, Driven Largely By The May 2026 Hike In Import Duty To 15%, Which Has Made The Grey Market Significantly Cheaper Than Legal Channels and Squeezed Legitimate Dealers and Jewellers
India’s bullion market is being skewed by a sharp rise in smuggled gold, driven largely by the May 2026 hike in import duty to 15%, which has made the grey market significantly cheaper than legal channels and squeezed legitimate dealers and jewellers.
Market distortion and price gap
- Smuggled gold is now selling at discounts of up to Rs 8,000 per 10 grams compared with official prices, creating a wide arbitrage that undercuts compliant traders.
- Industry executives warn that this price gap is a clear signal of an active grey market, disadvantaging genuine bullion dealers and organised jewellers who pay full duty and taxes.
Scale of illegal inflows
- Industry estimates suggest more than 100 tonnes of gold could enter India through illegal channels in 2026, echoing past surges in smuggling after earlier duty hikes.
- Despite the higher tariff, India’s gold import bill rose 24% to a record $71.9 billion in FY26, even as physical volumes fell to about 721 tonnes, indicating persistent demand being met partly via unofficial routes.
Enforcement response
- Revenue intelligence agencies, particularly the Directorate of Revenue Intelligence (DRI), have intensified operations against organised smuggling networks using airports, land borders, coastal routes and domestic road transport
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