Page 32 - Bullion World Issue 11 Volume 05 November 2025

Bullion World | Volume 5 | Issue 11 | November 2025
Forging Trust and Tackling Trade

Barriers: Insights from Bullion World’s

Recently Concluded Webinar

Building Industry Credibility: Indian Association for Gold
The Indian gold industry, a vital pillar of the Excellence and Standards (IAGES)
nation’s culture and economy, stands at Amid the gold industry’s complexities, trust emerges as both
the cusp of transformative change. Recent the bedrock and the goal of all stakeholder relationships—from
years have seen accelerating calls for miner to end consumer. Recognizing this, the World Gold
greater transparency, efficient regulation, Council incubated the Indian Association for Gold Excellence
and globally aligned standards across the and Standards (IAGES) in 2024 to function as an industry-
bullion value chain. Bullion World’s recent led self-regulatory organization (SRO) dedicated to elevating
webinar—part of the Eventell Knowledge compliance, transparency, and best practices throughout the
Series—brought together two of the industry’s Indian gold sector.
most authoritative voices to address these
critical shifts: Mr Kaushalendra Sinha, CEO Mr Kaushlendra Sinha, founding CEO of IAGES, drew parallels
of the Indian Association for Gold Excellence between the new SRO and similar transformations in India’s
and Standards (IAGES), and Mr KP Singh, mutual fund industry. He described how the formation of the
a veteran customs and trade consultant and Association of Mutual Funds in India (AMFI) over two decades
former Principal Commissioner of GST and ago turned a fragmented market plagued by low transparency
Customs. The session unfolded in two distinct into one that epitomizes trust and standardization for millions
but interconnected segments: an introductory of investors. The gold sector, Mr Kaushlendra emphasized,
overview of IAGES’s mission as an industry
self-regulator, followed by a deep dive into the is equally characterized by fragmentation and regional price
persistent customs and foreign trade hurdles variability, making the case for robust self-regulation ever more
confronting bullion imports in India. urgent.

IAGES’s pillars of action span the establishment of a code of
conduct, an accreditation framework, and consumer-centric
practices. Accreditation is awarded only after rigorous third-
party audits by top-tier Chartered Accountant firms, ensuring
business process integrity rather than merely verifying metal
purity. Six value chain verticals—refining, manufacturing,
retailing, bullion trading, hallmarking, and digital gold retailing—
are being brought under these standards. Beyond offering
assurance to consumers and investors, IAGES accreditation
positions companies for global partnerships, as acceptance
of standard business processes is increasingly becoming the
norm in cross-border trade.

Regularly updated standards, transparent processes, and
tech-enabled assessments are aiming to support sustainable
growth, international linkages, and overall industry upliftment.
As the Indian gold sector adapts to rising scrutiny and evolving
consumer expectations, IAGES stands out as a unifying voice—
an endeavour conceived by the industry, for the industry,
with the potential to reshape the sector’s reputation and
Mr Kaushlendra Sinha
competitiveness for decades to come.

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