Indian Gold Industry Launches Self-Regulatory Organisation to Boost Transparency

The Indian gold industry has introduced the Indian Association for Gold Excellence and Standards (IAGES), a self-regulatory organisation supported by the World Gold Council. This initiative aims to enhance transparency, trust, and regulatory compliance within the gold sector. It is expected to become operational by the end of 2024.

The Indian gold industry announced the formation of the Indian Association for Gold Excellence and Standards (IAGES) on Tuesday, a self-regulatory organisation (SRO) supported by the World Gold Council. The initiative aims to enhance transparency and eliminate the trust deficit in the sector.

The framework of IAGES will be independently governed and professionally managed, with memberships to be announced soon. The organisation is expected to become operational by December 2024 or January 2025, according to WGC Regional CEO, India, Sachin Jain.

Formed by national industry associations including the Indian Bullion and Jewellers Association (IBJA), All India Gems and Jewellery Council of India (GJC), and Gem and Jewellery Export Promotion Council (GJEPC), IAGES aims to increase trust and confidence in the Indian gold industry through fair practices, regulatory compliance, and the introduction of an audit framework.