The World Gold Council has conducted a study to assess the current state of hallmarking in India.
Our intention was threefold:
- To evaluate the existing hallmarking system
- To stimulate debate around how best to strengthen hallmarking processes
- To demonstrate the benefits of an effective hallmarking infrastructure.
Gold jewellery demand was worth US$100 billion in 2014, and accounted for over half of global demand for gold.
Rooted deeply in a diverse tapestry of cultural traditions the aspiration to own and give gold in the form of jewellery transcends generations and national boundaries. The three largest markets for gold jewellery, China, India, and the US, each accord it a unique cultural significance. Acquiring jewellery is connected to celebrations, relationships, self-expression, and hopes for the future in these countries
Gold is radiant, malleable, pure and untarnishable. These physical qualities alongside its intrinsic value have encouraged elite designers to both reinvent the classics and take gold design in new directions. Tapping into this new trade in gold, the World Gold Council created the digital platform and brand: LoveGold™, as a place to discover the most beautiful gold jewellery being made, desired, given and worn today.
Chinese society views purchasing gold jewellery as sound financial foresight which promises to bring good fortune. The majority of Chinese consumers buy high purity 24 carat gold jewellery, giving their purchases more enduring financial value.
The age of first acquisition of gold in China is getting younger, as the rising generation of Chinese millennials turn to gold to demonstrate their aspirations and identity. They are now becoming a dominant force in the gold and luxury goods market.
As the market development organisation for the gold industry, the World Gold Council acts as a catalyst for ideas and initiatives to ensure that gold remains relevant to each generation and Azva - India’s first gold bridal jewellery brand launched by World Gold Council in 2012, is a true example of this.
Azva has showcased the best of gold jewellery – both in terms of design and manufacturing in India. Within a short period, with support from manufacturers, retailers and with a dedicated team of highly talented professionals and a significant investment from the World Gold Council, Azva carved out a niche in the bridal gold jewellery market. Within three years of its launch, there were over 130 Azva branded zones in top retail outlets across over 40 cities in India. The brand built a very engaging social media community with over 6 lakh (600k) followers on facebook, twitter, instagram, pinterest and YouTube, making it one of the largest communities for a bridal gold jewellery brand in the country.
In December 2015, a subsidiary of PC Jeweller Limited, acquired Azva from the World Gold Council. We hope Azva inspires the industry to innovate similarly to create contemporary gold jewellery brands that address the needs and aspirations of a modern Indian consumer.