The Indian Association for Gold Excellence & Standards (IAGES) celebrated its first anniversary today at Hotel Sofitel, One BKC, Mumbai with its accredited partners and key representatives of India’s gold value chain. The annual meet commemorated IAGES invaluable contribution towards transforming the gold industry in India by building a transparent, trusted, and accountable and ethical ecosystem for both businesses and consumers alike, with its standard code of conduct.
Over the course of the past year, IAGES has built a fast-growing network of 140+ accredited partners spread across 750+ partner outlets in 235+ cities pan India. Some of India’s most reputed brands like GRT, Senco, PNG, Jos Alukkas, WHP, Orient Jewellers, Lagu Bandhu, Pothys, Thangamayil and Jagannath Pednekar as well as small and medium regional and city-based retailers, reflecting the industry’s growing confidence in IAGES’ accreditation framework.
The idea of IAGES was conceptualized by World Gold Council on how we can shift India’s gold-buying mindset from fear, cynicism and distrust to trust, confidence, and faith in the ecosystem. A year ago, IAGES was created to benefit gold businesses with a valuable third-party-accessed accreditation but also consumers, through a network of trusted and verified gold businesses and jewellers. When the gold-buying mindset changes at the root level, the industry eventually evolves at large. Over the next 3-5 years, we see India’s gold industry at par with the ethics and business practices of some of the world’s most developed gold markets,” said Kaushlendra Sinha, CEO, IAGES.
IAGES has also spent most part of the year tirelessly educating consumers via its ongoing ‘Before you exchange or buy gold, #PehlaCheckIAGES’ campaign,’ on how to buy gold only from verified sources. Over 50 million consumers have been reached through outdoor advertising, metro branding, digital platforms, and social media initiatives as part of the umbrella campaign.
To change the gold-buying mindset in India and empower consumers with the right tools to make informed decisions, IAGES also launched its Accredited Partner Directory, a first-of-its-kind platform that allows users to search for verified gold businesses by brand, location, or category before they step out to buy or exchange gold. The online directory continues to attract massive number of visitors every day.
India has long been one of the world’s most significant gold markets. IAGES believes the next chapter lies in strengthening the industry’s reputation through greater accountability, customer-centricity, and voluntary adoption of best practices. The association welcomes gold businesses from every corner of the country to join its growing network and play a meaningful role in shaping an industry that future generations can be proud of.
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