National News
World Water Day 2026: Inauguration of the CIBJO Lake Marks a Powerful Commitment to Water Conservation and Sustainability

On the occasion of World Water Day 2026, the Dholakia Foundation, the philanthropic arm of Hari Krishna Group, marked a significant environmental milestone with the inauguration of the CIBJO Lake. The event brought together global industry leaders, public representatives, and members of the Dholakia family and the community, reflecting a shared commitment to water conservation, biodiversity, and building a sustainable future.

A Tribute to 100 Years of Global Leadership
The CIBJO Lake was inaugurated by the Chief Guest, Dr. Gaetano Cavalieri, President of CIBJO, as a tribute to the 100-year milestone of CIBJO – The World Jewellery Confederation. The inauguration was also held in the presence of Kaushikbhai Kantibhai Vekariya, Hon’ble Minister of State, Government of Gujarat; Bharatbhai Sutariya, Hon’ble Member of Parliament, Amreli; Janakbhai Talaviya, Hon’ble MLA, Lathi; J.V. Kakadiya, MLA, Dhari; and Hirabhai Solanki, MLA, Rajula. Founded in 1926, CIBJO has played a key role in promoting ethical practices, sustainability, and global cooperation across the jewellery supply chain.

Developed in 2023 in Luvariya village as part of the Gagadiya river rejuvenation initiative, the lake strengthens water security in Saurashtra, a drought-prone region. Spread across 15 acres with a storage capacity of 156 million litres (15.6 crore litres), it supports five villages, benefiting around 12,000 farmers. Improved water availability has enabled multi-cropping and increased groundwater levels, transforming the local ecosystem.
Global Presence and Reflections on Sustainability
The occasion featured inspiring addresses by global leaders. Dr. Gaetano Cavalieri reflected on the deeper significance of the initiative:
“Martin Luther King Jr. once said, ‘I have a dream.’ In the same way, Savjibhai Dholakia had a dream — and today, we see that dream turning into reality. What was once barren land has been transformed into a thriving ecosystem of water, greenery, wildlife, and community life.”

“What the Dholakia Foundation has achieved here is truly remarkable. This work stands as proof that industry can lead with conscience — that growth and responsibility can coexist. Savjibhai Dholakia, Founder and Chairman of Hari Krishna Exports Pvt. Ltd also addressed the gathering, emphasising the importance of giving back to nature and building long-term environmental initiatives for future generations.”
He also added that in Kutch, across 13 talukas, lake development and water conservation initiatives are being undertaken through a collaborative effort between the villagers and the Foundation. Where farmers earlier relied on a single crop, improved water availability and rainfall have now enabled up to three cropping cycles annually.

International Participation
The inauguration was attended by an esteemed international delegation, including:
| Category | Name | Designation |
| CIBJO & Industry Leadership | Dr. Gaetano Cavalieri | President, CIBJO |
| CIBJO & Industry Leadership | Francesca Manfredi | Head of Sustainable Innovation – Watches & Jewellery, Kering Group |
| Distinguished Excellencies | Lalatiana Accouche | High Commissioner of Seychelles to India |
| Distinguished Excellencies | Gilbert Shimane Mangole | High Commissioner of the Republic of Botswana to India |
| Distinguished Excellencies | Ganbold Dambajav | Ambassador of Mongolia to India |
| Distinguished Excellencies | Sena Latif | Ambassador of Romania to India |
| Distinguished Excellencies | Aishath Azeema | High Commissioner of the Republic of Maldives |
| Distinguished Excellencies | Chavanart Thangsumphant | Ambassador of Thailand to India |
| Distinguished Excellencies | Felix Diallo | Ambassador of the Republic of Mali |
| Distinguished Excellencies | Rath Many | Ambassador of the Kingdom of Cambodia to India |
| Distinguished Excellencies | Ildjima Badda | Ambassador of the Republic of Chad in India |
| Distinguished Excellencies | Erick Jean Marie Zinsou | Ambassador of the Republic of Benin to India |
| Distinguished Excellencies | Zada Seidou | Ambassador of Niger to India |
| Distinguished Excellencies | Yawo Edem Akpemado | Charged Affaires / Head of Mission, High Commission of Togo |
| Distinguished Excellencies | Sylvie Michèle Mpon Tiek | Charged Affaires, High Commission of the Republic of Cameroon in India |
The session concluded with a heartfelt vote of thanks to all dignitaries and participants.
Towards a More Sustainable Tomorrow
The inauguration of the CIBJO Lake marks a meaningful step towards environmental responsibility and long-term sustainability. More than an infrastructure project, it stands as a symbol of collective action, community impact, and respect for nature—demonstrating that growth and responsibility can go hand in hand.
National News
BCCI Panel Discussion Explored Ways To Channel Household Gold Into The Formal Financial System
If India Can Replicate The Convenience Of A Gold Loan While Offering Attractive Incentives, The Country Has The Potential To Mobilize Significant Domestic Gold Resources.
Bombay Chamber of Commerce & Industry organized a panel discussion on “Building India’s Gold Monetization Marketplace”, moderated by Neil Borate, Editor-in-Chief of The Federal’s fintech platform The Fynprint. The panel featured Khushboo Ranawat, Regional Chairperson – West, and Member – National Exhibitions, GJEPC, Richa Agarwal, Chief General Manager, SEBI; Ramakrishnan Padmanabhan, General Manager, Department of Metals & Commodities, IFSCA; Nilesh Lodaya, Chief Business Officer, CDSL; Rajnish Gupta, Partner, Tax and Economic Policy Group, EY India; and Gunveer Singh, Executive Director, Department of Payment & Settlement Systems, RBI.
The discussion explored ways to channel household gold into the formal financial system, strengthen India’s gold monetization ecosystem and reduce dependence on imports. Panelists noted that a significant share of India’s gold holdings consists of investment gold in the form of bars and coins, representing a substantial opportunity for future monetization. If India can replicate the convenience of a gold loan while offering attractive incentives, the country has the potential to mobilize significant domestic gold resources.
The seminar brought together regulators, market infrastructure institutions and industry leaders to discuss policy reforms, electronic gold receipts, tokenization and the development of a modern digital gold ecosystem. Speakers included Praveen Rai, MD & CEO of MCX, former SEBI Executive Director Pramod Rao, and senior officials from SEBI, IFSCA, RBI, CDSL and NSDL.
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