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
Augmont-NSE Partnership Drives Strong Start for India’s Gold EGR Market, with Over 1,60,357 Units Traded in First Few Hours
Electronic Gold Receipts segment witnesses active two-way trading on day one, with 1,60,375 units traded, representing approximately 6 kg of gold and a traded value of ₹23.34 crore as of 04:25 PM
India’s gold market took an important step towards greater integration with the commencement of live trading in the Electronic Gold Receipts (EGR) segment on the National Stock Exchange of India (NSE) today. Enabled through the collaboration between NSE and Augmont Enterprises Limited, the launch brings together NSE’s regulated exchange infrastructure and Augmont’s integrated physical gold ecosystem, creating a new avenue for investors to trade physically backed gold.
On its opening day, the EGR segment witnessed active two-way trading, with 1,60,357 units traded by approximately 04:25 PM, representing around 6 kg of gold. The trading activity translated into a cumulative traded value of approximately Rs.23.34 crore during the first session. The segment also demonstrated orderly price discovery, with prices remaining within a narrow intraday range of Rs.1,450.50 to Rs.1,460.00. The bid-ask spread remained between Rs.0.50 and Rs.1.00, indicating continuous two-way quotations and an active order book.
Each EGR represents 100 mg of physical gold, with the underlying gold held in SEBI-regulated vaults. Investors can buy and sell EGRs through their demat accounts on the exchange, while retaining the option of converting their holdings into physical gold, subject to the applicable framework. The segment follows a T+1 settlement cycle, under which trades executed on a particular day are settled on the next business day, facilitating the transfer of securities and funds through the exchange’s regulated clearing and settlement mechanism.
Under the strategic collaboration, Augmont serves as a key physical gold and infrastructure partner for NSE’s EGR segment, supporting the creation, vaulting, redemption and liquidity ecosystem. The gold backing the EGRs is sourced through Augmont’s integrated refining infrastructure, bringing together physical gold processing and exchange-based trading within a regulated framework.
The commencement of live trading marks an important step towards building a more transparent and accessible gold market in India. By enabling standardised gold to be traded through an exchange-based mechanism, EGRs have the potential to strengthen price discovery, improve market participation and create a more integrated ecosystem for physical gold.
Ketan Kothari, Whole-time Director, Augmont Enterprises Limited, said:

“The commencement of EGR trading marks the transition of our collaboration with NSE from building the underlying infrastructure to enabling a live, exchange-traded gold market. The day-one trading activity, continuous two-way quotations and orderly price discovery are important initial milestones for a new market segment.
At Augmont, we have brought together our refining capabilities and physical gold infrastructure to support the creation, vaulting and redemption of EGRs. We believe this initiative can play an important role in making physical gold more accessible, transparent and integrated with India’s formal financial ecosystem. Our focus remains on strengthening the ecosystem and supporting its wider adoption among investors, brokers and other market participants.“
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