Page 20 - Bollion World Volume 4 Issue 8 August 2024_Neat

Bullion World | Volume 4 | Issue 8 | August 2024
B ullion W orld | V olume 4 | I ssue 8 | A ugust 2024
Indian Gold Industry announces

‘Indian Association for Gold

Excellence and Standards’ (IAGES)

IAGES is self-regulatory organisation (SRO)

for the Indian gold industry, by the Indian gold industry
that is supported by the World Gold Council

Mumbai, August 6, 2024 - The Indian gold industry has All India Gems and Jewellery Council of India (GJC) and
today announced the formation of the Indian Association Gem and Jewellery Export Promotion Council (GJEPC)
for Gold Excellence and Standards (IAGES – pronounced and supported by the World Gold Council.
as I-AAY-GES), a self-regulatory organisation (SRO)
created by the Indian gold industry, for the Indian gold IAGES logo represents coming together of various
industry and supported by the World Gold Council. stakeholders of the Indian industry for the greater good
of the gold industry and colour red denotes purity,
IAGES will aim at increasing consumer confidence and commitment and represents India's warm diversified
enhancing trust in the Indian gold industry through culture.
encouraging adoption of fair, transparent and sustainable
practices, regulatory compliance, establishing code of IAGES will be independently governed and professionally
conduct and introducing an audit framework – created managed. The Code of Conduct created by it will be
by the Indian gold industry, for the Indian gold industry available for everyone from the industry, however, its
across the entire industry value chain. It will be inspired adoption will be entirely voluntary. The registrations for
by the World Gold Council’s Retail Gold Investment IAGES membership will be announced soon and the
Principles IAGES will aim to give gold providers a organisation will be operational by early 2025.
detailed set of best practices and a road map for
implementing them. Sachin Jain, Regional CEO, India, World Gold
Council, said, “The gold industry is integral to the
IAGES will be formed by national industry associations Indian economy, contributing approx. 2% to Indian GDP
including Indian Bullion and Jewellers Association (IBJA), and 3-5mn in employment. As India embarks on the

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