World Gold Council unveils the Indian Association for Gold Excellence and Standards (IAGES) at Retail Jeweller India Awards 2024

Just the way the gala awards night brings all stakeholders together as an elite circle of excellence, the IAGES will be a unique self-regulatory organisation bringing together SEBI, RBI, and other jewellery councils such as IBJA, GJEPC, and GJC, adhering to the retail gold investment principles

Mumbai: It was a momentous occasion for every stakeholder in Indian jewellery as Sachin Jain, regional CEO India of WGC unveiled the Indian Association for Gold Excellence and Standards (IAGES) at the glamorous Retail Jeweller India Awards (RJIA) 2024.

“With IAGES, we are not just meeting global standards; we are setting them. This initiative will enable us to compete at the highest levels, ensuring that our products are recognised for their quality worldwide,” Jain remarked, emphasising the association’s ambition to position India as a leader in the global gold market.

The introduction of the SRO is seen as a watershed moment for the industry. Historically, the gold sector in India has operated within a loosely regulated framework, which has often led to challenges in maintaining consistent standards across the board. With the establishment of the SRO, the industry is expected to see a more uniform approach to quality control, compliance, and ethical practices.

The IAGES will be responsible for setting benchmarks that align with global best practices, ensuring that Indian gold products meet international quality standards. For an industry that has long been a cornerstone of India’s economy, this move towards self-regulation is both timely and necessary.

Talking about the impact of IAGES, Jain said the regulatory body will be ready as an organisation by the end of this year. The response to it from the retailers at the IIJS Premiere 2024 for the IAGES, said Jain, has been overwhelming. “IAGES is truly going to revolutionise the way gold is consumed and sold to the end-consumers,” Jain added.

“I think the Retail Jeweller Awards is a phenomenal platform which not only brings great achievements together, but also brings the industry together from all across the country. It’s a night wherein everybody gets inspired. At the same time, one gets to behold and appreciate the masterful pieces of jewellery that vie for the top spot as nominations,” said Sachin Jain.

The dignitary appreciated the nominations filed from all across the country and said that the submissions in all categories related to gold jewellery show the time and effort put behind crafting each jewellery piece that can stand the test of time, thanks to their design diversity and versatility.

Concluding his comment, Jain thanked The Retail Jeweller India for organising such a great awards ceremony for the industry and wished for its greater success in the future.

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