Page 26 - Bullion World Volume 03 Issue 07 July 2022

Bullion World | Volume 5 | Issue 09 | September 2025
B ullion W orld | V olume 5 | I ssue 09 | S ep t ember 2025
IAGES – An Industry

Initiative to Shape the

Future of India’s Gold Market

Mr Kaushlendra Sinha, CEO, Indian Association for Gold Excellence and Standards

Gold is not just a metal in India – it is an
emotion. From ancient times to today, it has
played a central role in our culture, tradition
and even personal financial security.
For generations, families have seen gold as
the ultimate form of wealth, something that
never loses value and always comes to the
rescue in tough times.

Every festival season, jewellery showrooms
brim with eager buyers. Weddings sparkle
with ornate gold sets passed from one
generation to the next. Temples across the
country receive generous offerings of gold
ornaments and coins. And even in rural India,
people often prefer investing in gold over
keeping cash in the bank.

This love story between India and gold is
reflected in the numbers – our country buys
close to 800 tonnes of gold every year, making
us one of the biggest consumers in the world.
Mr Kaushlendra Sinha
But behind the glitter lies a challenge.

A giant industry with the need to organise itself
The gold trade in India is huge. It employs millions – from refiners to traders, jewellers, artisans, and retailers. It
also contributes significantly to our economy.

Yet, for such a large industry, things are not as organised as they could be. The market is highly fragmented –
meaning different sellers and suppliers follow different standards. Not all players are transparent about where
their gold is sourced from. And there’s no arrangement to ensure everyone follows the same trusted practices.

While many jewellers do maintain high ethical and quality standards, the lack of a unifying system makes it hard
for customers to know whom to trust. It also creates a disadvantage when we are competing with countries that
have uniform regulations.

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