The Indian Bullion and Jewellers Association (IBJA) successfully hosted the IBJA Leadership Conclave 2025 at the Bangalore International Exhibition Centre (BIEC), gathering industry influencers, decision-makers, and innovators from across the nation. The event focused on driving the future of India’s bullion and jewellery sector through strategic collaboration, dialogue, and fresh innovation.
The event’s opening ceremony welcomed esteemed leaders including Dr. Chetan Kumar Mehta, President of IBJA’s Jewellery Division and JAB; Malleswara Rao, Andhra Pradesh IBJA President and Conclave Convenor; Chandrasreenivas Rao, Telangana State President; P.V. Jose from Kerala; Sumesh Wadhera from Karnataka; Ankit Vaidya from Madhya Pradesh; and Sreekanth Urs, CEO of GES India Inc.
In his keynote address, Dr. Mehta delivered an empowering message:
“Followers are temporary, leaders are permanent. So, be a leader!”
Sharing lessons from his personal journey, he emphasized that humility, persistence, and embracing innovation are vital for sustained growth in the jewellery industry.
The conclave also featured high-impact knowledge-sharing sessions. A standout discussion titled Next Gen Jewellery: Provenance, Precision and Personalization with AI & Blockchain explored how emerging technologies are transforming the industry.
In a notable conversation between Kamlesh Nagware, Founder of the Global Tokenization Forum, and Rahul Desai, MD & CEO of IIG, attention was drawn to increasing consumer demand for ethical sourcing and product authenticity. Both speakers stressed that Artificial Intelligence and Blockchain are not just trends but indispensable technologies for the future of the jewellery trade.
A significant session at the conclave focused on the Need for Hedging in the Bullion Market, with Jigar Pandit, SVP & Business Head – Commodity at Mirae Asset Sharekhan, engaging in a discussion with Sumesh Wadhera, MD of AOJ Media.
Jigar Pandit stressed how crucial hedging is to manage the risks associated with price volatility in the bullion sector. He recommended that jewellers should hedge only their genuine exposures instead of betting on market shifts. He also underscored the value of using Gold Metal Loans (GMLs) as an efficient way to source raw materials while controlling price risks. Moreover, he highlighted the pressing need to spread awareness among Indian jewellers regarding this practice.
Another session titled Retail Sales and Merchandise, led by Rajiv Pandey, Head of Jewellery Design at IIG South, provided essential insights into boosting retail success. He elaborated on vital tactics such as strategic business planning, upselling and cross-selling techniques, gemstone certification, robust inventory management, and well-structured staff training—all of which play a crucial role in driving sales and improving the overall customer journey.
Ajay Kedia, Founder and Director of Kedia Capital Service, presented an insightful session titled Silver in Focus – A Comprehensive Overview of Silver’s Trajectory, where he emphasized that silver remains the most undervalued asset in the global financial system. He described silver not just as a commodity but as a hedge against currency devaluation, a critical industrial metal, and an early indicator of systemic instability. Kedia explored the key factors behind silver’s rising demand—such as its role in clean energy technologies and increased preference among jewellery buyers. He also mentioned the speculation surrounding the Russian central bank potentially including silver in its reserves. Confident in its prospects, he forecasted that silver prices could soar to USD 70 in the near future.
In a separate, empowering session titled “Legacy to Leadership: How Traditional Jewellers Can Rule the New Era”, renowned motivational speaker and business mentor Dr. Ujjwal Patni delivered an electrifying keynote that resonated deeply with the audience. Through his trademark mix of insightful commentary and relatable storytelling, Dr. Patni addressed jewellery professionals facing modern business challenges, encouraging them to shed outdated practices and embrace innovation.
His core message was clear: complacency hinders excellence. In a marketplace increasingly shaped by evolving customer needs and digital shifts, only businesses that maintain a strong drive for progress will succeed.
Dr. Patni underlined that clarity, structured operations, and a clear vision are essential elements for success in today’s climate. He advised that traditional jewellery enterprises must balance their rich heritage with streamlined systems, efficient processes, strategic planning, and a formal vision document to remain competitive and scalable.
He also introduced his “secret sauce” for achieving business success—a collection of actionable strategies crafted specifically for modern jewellery entrepreneurs.
- Owner Growth Hour Strategy: Encourages business owners to dedicate time daily for self-growth, thoughtful reflection, and strategic decision-making.
- Market Analysis Strategy: Highlights the value of monitoring market trends, competitor activity, and shifting consumer behavior to maintain a competitive edge.
- USP Strategy: Focuses on defining and communicating a distinct Unique Selling Proposition to stand apart in a crowded marketplace.
- Cartier Strategy: Suggests drawing lessons from top-tier luxury brands like Cartier to refine customer perception, boost brand prestige, and improve customer experience.
Dr. Ujjwal Patni’s session acted as a crucial reality check for jewellers still clinging to outdated methods. Through actionable insights and sharp strategies, he painted a picture of modern leadership—one that respects tradition while actively driving innovation.
Cybercrime – Adv. Pankaj Bafna
shed light on the rising threat of cybercrime, fueled by increased mobile and social media use. He warned that individuals involved in cyber offenses face significant penalties, including hefty fines and jail time.
He also stressed the legal responsibilities of businesses, especially in terms of suspicious financial activity. Failure to comply with the Prevention of Money Laundering Act (PMLA) can result in account seizures and enforcement action. To stay compliant, businesses should focus on collecting proper KYC data, maintaining detailed transaction records, and putting strong internal controls in place to mitigate reputational and legal risks.
Astro Gemology – Dr. Prashanth Srinivasa Murthy, Faculty at IIG South,
shared insights into the ancient Indian practice of Astro Gemology, which blends astrology with gemstone science. His session highlighted how gemstones, selected based on an individual’s astrological chart, can positively influence various aspects of life—from health and well-being to career and relationships.
Astro gemology, deeply embedded in Vedic astrology, is founded on the idea that specific gemstones, when selected based on planetary alignments, can channel positive energy and neutralize harmful astrological effects.
In a session titled Nirmal Bang View on Gold, Kunal Shah, Head of Commodities Research at Nirmal Bang, explained that gold prices are influenced by two key emotional factors—love demand, stemming from gold’s appeal as a decorative metal, and fear demand, driven by uncertainty about global affairs and the future.
Kunal Shah discussed the challenges of a shifting global order, shaped by rising U.S. debt levels, a surge in gold buying by central banks, and Asia’s increasing economic power. He predicted that gold prices are unlikely to see sharp increases in the short term, and may instead remain steady or even decline slightly.
To sum up, the IBJA Leadership Conclave 2025 proved to be a powerful forum for exploring new ideas, fostering strategic thinking, and cultivating leadership in the bullion and jewellery industries. With widespread participation from industry leaders and regional representatives, the event paved the way for innovation and cooperative growth within the sector.