President Blog

Prithviraj Kothari

India International Bullion Summit 2019 was held at Mumbai on 15th March, 2019 in the presence of more than 800 delegates to celebrate it's centenary (100) years. The two day event included Technical Symposium and Panel Discussions on the issues related to the gold and jewellery industry. Nearly 60 speakers were present from various organisations like NABL, BIS, World Gold Council, NSE, BSE, MCX, Edelweiss, Reliance, MMTC - PAMP, GIA, IGPC, Metal Focus, IMC, IAHC, AGRM, IBM, and GJC apart from Banks, Bullion Dealers and Jewellers. IBJA National Vice President Mr. Prithviraj Kothari and senior most Director Mr. Sumatichand Gouti explained the detailed working of IBJA and future plans. IBJA is planning a series of event every month in their 100th year which includes conferences, seminars, B2B Festival and B2C Festival, etc. The representatives from Commodity Exchanges explained the need for a Gold Spot Exchange and status for the same. All of them appreciated the government decision to allow mutual fund to trade in gold derivatives market. The bullion bank and its importance were explained by the World Gold Council. Mr. Somasundaram of World Gold Council through a video message explained how new the gold policy will help this industry. Jewellery designers like Ms. Poonam Soni was present and explained the audience as to how designer jewellery can help the growth and profit of business. The representative of IBM explained how technology can be helpful for trade. Heated discussions were held in respect to comparing Digital Gold with Physical Gold. But the highlight of the panel discussions was the panel on Hallmarking about who is responsible for incorrect hallmarking. IBJA also launched the B2C Festival in Mumbai, Thane and Navi Mumbai from Gudi Padwa till Akshaya Tritiya in this seminar. IBJA also launched ‘IBJA Accredited Stores’ for the benefit of MSME jewellers to compete with big jewellery brands. 32 awards were also given during the seminar which included awards to media channels like Zee Business and CNBC. The other recipients of the award were MCX for Best Commodity Exchange, MMTC for Best Refinery. The lifetime achievement award was given to Shri Vimal Chand Jain. Various other awards were awarded to Senco Jewellers, GRT, Swarn Ship, Aldora, S.K. Jewellers and RSBL. Mr. Anurag Rastogi of UP received the award for outstanding contribution to the Association. Hon. Commerce Minister Shri Suresh Prabhu also sent a video message as he was unable to join the seminar due to the code of conduct.

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