India tightens standards for gold

India’s new "Good Delivery Gold" standard system establishes requirements for responsible sourcing and traceability. The Gem and Jewellery Export Promotion Council (GJEPC) has called for the swift adoption and international recognition of these standards to strengthen India’s position in the global precious metals market.

A national standard system for the quality, purity, and responsible sourcing of gold bars was first introduced in India in 2019. Historically, the global gold trade has relied exclusively on the London Bullion Market Association (LBMA) "Good Delivery" standard. However, as one of the world’s largest consumers of gold, India has developed its own independent standardization system, launched under the auspices of the Bureau of Indian Standards (BIS), the government think tank NITI Aayog, the GJEPC, and other key regulatory bodies. Significant updates to this system, along with its implementation, took place in 2026.

The new IFSCA (Good Delivery) guidelines, published on October 15, establish a framework for responsible procurement, quality assurance, and traceability in gold refining. They are designed to enhance transparency and accountability throughout the gold supply chain. These principles will be implemented via the India International Bullion Exchange (IIBX) in GIFT City, Gujarat.

The GJEPC has stated that international recognition of gold refined in India will help boost demand for it in overseas markets and create new opportunities for the export of precious metals. The system is expected to help refineries demonstrate compliance with responsible sourcing requirements and strengthen trust among participants in the international precious metals market.

Having a recognized domestic regulatory framework could assist Indian refineries in meeting international standards, while simultaneously supporting the country’s ambitions to expand its role in global precious metals markets.

For the Indian jewelry industry, this system could have implications extending beyond the refining sector—particularly for exporters seeking reliable access to responsibly sourced precious metals. Its impact will depend on its implementation, industry adoption, and recognition by international market participants.

The GJEPC has urged the authorities to accelerate implementation and secure international recognition, ensuring that Indian refineries can benefit from this program.

Hélène Tarin, Editor-in-Chief of the Asian Bureau, Rough&Polished