National News
Zaveri Bazar Welfare Association (ZBWA) Unveils India’s Grandest Jewellery Celebration
“ZBF 2025” Zaveri Bazar Gems and Jewellery Festival
The legendary Zaveri Bazar, Mumbai’s timeless epicentre of the gems and jewellery trade, is poised to dazzle the world with the launch of ZBF 2025 (Zaveri Bazar Gems & Jewellery Festival) an extraordinary, first-of-its-kind B2B celebration fusing business brilliance with India’s rich cultural heritage.
This festival is organized by the Zaveri Bazar Welfare Association (ZBWA) in Association with Jewel Trendz Pvt. Ltd (Event organizer). ZBF 2025 will run from 22nd September to 26th October 2025, with the core buyer-seller showcase scheduled from 6th to 16th October 2025. The festival promises to redefine the business of jewellery with unmatched scale, spirit, and splendour.
Highlights of ZBF 2025 The ZBF 2025 is set to become the gold standard in jewellery events by bringing together the entire ecosystem under one visionary platform: – 7,000+ Hosted Jewellery Retailers from every corner of India – International Buyers from over 10 countries – 9,000+ Manufacturers, Wholesalers & Traders from the Zaveri Bazar fraternity – Heritage Showcases, Cultural Parades, Fashion Walks, Light Installations, and much more
Participants will experience premium business meetings, exclusive jewellery showcases across Zaveri Bazar stores and offices, and curated networking evenings, all wrapped in the festive spirit of Diwali in India’s most iconic jewellery destination.
A United Industry, A Shared Vision For the first time in history, Zaveri Bazar comes together as one, backed by the unwavering support of leading industry bodies: IBJA | GJC | MWGJA | Dagina Bazar | JYF | and the entire Indian jewellery community Speaking on the initiative.
Hitesh Jain, President of Zaveri Bazar Welfare Association, shared: “ZBF 2025 is more than a festival. it’s a tribute to our legacy, our craftsmanship, and our collective pride. We are writing a new chapter for Indian jewellery. Zaveri Bazar will shine again — stronger, brighter, and united like never before.”
Govind Verma CMD – Jewel Trendz Pvt Ltd : The Zaveri Bazar Gem & Jewellery Festival will be a game changer. Zaveri Bazar is an important and historic market. ZBF will leverage the legacy of Zaveri Bazar and make it global brand. I am honoured and privileged to be associated with ZBF.
Rajesh Kalyanaraman -Executive Director Kalyan Jewellers: Zaveri Bazar is a historic and important jewellery market. I cherish the fond memories of Zaveri Bazar and the warm relationships we have built with the jewellers of Zaveri Bazar. I assure you the full support from Kalyan Jewellers to each and every stakeholder in Zaveri Bazar
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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