National News
With Presence In 29 States and 240 Cities and 100+ Accredited-Partners, IAGES Aggressively Grows To 550+ Accredited Partner Outlets Pan India
IAGES Expands Its National Footprint, Strengthening Trust, Transparency, and Standardisation
The Indian Association for Gold Excellence and Standards (IAGES), a self-regulatory body has crossed the 100+ accredited partner landmark, establish a strong presence with 550+ partner outlets. With its footprint spanning 240+ cities pan India, IAGES consolidates its position as the facilitator of trust, transparency, and standardisation in the gold sector.
The IAGES accreditation network today spans the entire gold value chain—bringing together refiners, bullion traders, manufacturers, assaying and hallmarking centres, retailers, and digital gold retailers under a unified framework. While retailers form the majority, having actively adopted the industry-defined code of conduct and standardised their business practices, the growing participation across segments reflects strong industry confidence in the accreditation process. With many more partners currently in the pipeline, the momentum continues to build toward a more transparent and accountable gold ecosystem.
–Kaushlendra Sinha Said:
“IAGES represents a truly pan-India network from Kashmir to Kanyakumari and from Mumbai to Kolkata, reiterating the industry’s need for a standard code of conduct uniting businesses under a common framework of best practices. We are delighted to achieve this landmark and continue our endeavours to reach out to each and every gold business in the country. While we have accredited large national players, it gives us happiness that small and medium players are coming forward in large numbers which is a true representation of the success and acceptance of IAGES by the Gold Industry.”
Members are IAGES-accredited only after a comprehensive assessment of their business practices across the entire value chain is conducted by an independent third-party assessor. An accreditation is highly beneficial for both business and consumers. For gold jewellers, it reflects verified practises, ethical conduct, operational excellence and consumer trust and loyalty while for consumers, it means their certified retailer has sourced and manufactured their gold only after the most rigorous standard of authenticity and integrity have been met.
While IAGES remains focussed on building trust and transparency for the gold buyers, the organisation has initiated a consumer awareness campaign – ‘Before you buy gold, #PehlaCheckIAGES’. The campaign aims to create a shift in the gold-buying mindset by placing the power of making an informed choice on the buyer only after verifying that their retailer is IAGES-accredited.
National News
Gold Industry Proposes New Strategy To Cut Imports and Boost Local Economy
Precious Metals Refineries Forum (PMRF) Has Proposed A Two-Track System To Manage Gold More Efficiently
Following Prime Minister Narendra Modi’s call to reduce gold imports and foreign travel, major Indian bullion and jewellery bodies have submitted a new plan to the government and the Reserve Bank of India (RBI). The strategy aims to lower the nation’s trade deficit by tapping into the estimated 30,000 tonnes of gold sitting in Indian households.
This move comes after India’s gold imports jumped 24% to a record $71.9 billion in the 2025-26 financial year, with over 721 tonnes of gold brought into the country.
The New Strategy: Two Separate Systems
The Precious Metals Refineries Forum (PMRF) has proposed a two-track system to manage gold more efficiently:
- For Exporters: Imported gold should be strictly saved for jewellery exporters using one-year Gold Metal Loans (GML).
- For Local Buyers: Domestic demand should be met entirely by recycling household gold. This gold would be collected from citizens, refined locally, and sold back through jewellers and retailers.
Under this plan, people who deposit their idle gold could earn 2% to 2.5% interest, while businesses taking gold loans would pay an interest rate of 3% to 4%.
Fixing Why Past Schemes Failed
Previous government gold schemes failed to gain traction primarily because they left out local jewellers and lacked a proper banking structure. Without a joined-up system, institutions faced high financial risks from changing gold prices.
To fix this, trade bodies are calling for a complete system that includes:
- Direct involvement of trusted local jewellers. The schemes did not take off in the past because jewellers were not part of them. About 10% to 20% of family gold is held as bars or coins.
- Strong bank backing and secure storage vaults across the country.
- Tax incentives, such as removing the 3% GST loss when physical gold is converted into Electronic Gold Receipts (EGR), and offering income tax relief on the interest earned.
Industry Support
Industry experts say a smooth system is already possible. Collection and purity testing centres have confirmed that collected household gold can be processed within 48 hours and safely moved to secure, bank-approved vaults.
Representatives from the Indian Bullion and Jewellers Association (IBJA) recently held discussions with RBI officials to fast-track these changes.
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