Archive · 9 Aug 2025
India's Bullion Industry Requires National Skilling Framework
India's gold and jewelry business is a big part of its economy, but it needs to get better.
The article says that training people is key to improving it.
Other countries like Switzerland, China, and Turkey have shown how important it is to train people in this business.
Right now, India needs to train people to mine gold better, make jewelry in a modern way, and ensure that products meet quality standards.
The industry also needs to attract young people by offering good jobs, training, and new technology to stay competitive.
Aspect Bullion is starting a program to help with these things.
India's bullion industry contributes ~7.5% to GDP and supports over 5 million livelihoods.
A National Skilling Framework is needed to unlock economic potential in the bullion sector.
Switzerland, China, and Turkey have transformed their bullion sectors through skilling and innovation.
Gaps exist across the value chain in mining, manufacturing, standardization, and investment products.
Aspect Bullion has launched a skilling program blending traditional and modern techniques.
- Who
- Artisans, traders, investment professionals, and the Indian bullion industry.
- What
- The need for a national skilling framework in India's bullion industry.
- When
- Published August 9, 2025. The article emphasizes the need for immediate action.
- Where
- India, with references to Switzerland, China, and Turkey.
- Why
- To enhance economic potential, create jobs, and position India as a global leader.
Current Challenges
Proposed Solutions
Skilling Methods
Current Challenges
Industry relies on informal skilling and traditional practices, hindering scalability.
Proposed Solutions
Modern skilling is essential for technological adoption and global competitiveness.
Attracting Talent
Current Challenges
The industry faces an image of low-paying jobs with limited career mobility.
Proposed Solutions
The industry needs to highlight opportunities, such as digital jewellery design and AI manufacturing, to attract young talent.
- GDP Contribution
- ~7.5%
- Livelihoods Supported
- Over 5 million
- Population under 35
- 65%
- Gold Reserves (estimated)
- 650 tonne
- India's gold jewellery demand
- 29% of global
- India's gold jewellery exports
- $4.8 billion
- Turkey's gold jewellery exports
- $6.5 billion (2023)