Shringar House of Mangalsutra Limited has entered into a strategic partnership with the Indian Association for Gold Excellence and Standards (IAGES) to strengthen transparency, ethical practices, and standardisation in India’s gold jewellery industry, marking a significant step toward enhancing consumer trust and industry-wide compliance.
Quick Summary
- Shringar House of Mangalsutra signs MoU with IAGES
- Focus on transparency, ethics, and standardisation
- Covers 2,000+ retailers and wholesalers nationwide
- Promotes IAGES accreditation and Code of Conduct
- Includes webinars, awareness campaigns, and accreditation drives
- Aims to strengthen consumer trust and industry benchmarks
Official Announcement from Mumbai
Mumbai, April 4, 2026: Shringar House of Mangalsutra Limited, one of India’s leading manufacturers of mangalsutra, has signed a Memorandum of Understanding (MoU) with the Indian Association for Gold Excellence and Standards (IAGES), reinforcing its commitment to advancing transparency, ethical practices and standardisation across India’s gold jewellery industry.
Growing Importance of Trust and Standardisation in Gold Jewellery
India’s gold jewellery market is the cornerstone of the country’s culture and economy and continues to evolve with increasing focus on quality, trust and standardisation. Frameworks such as IAGES, in alignment with the Bureau of Indian Standards (BIS) hallmarking system, are playing a pivotal role in strengthening consumer confidence and enabling the industry’s next phase of growth. With a large base of family-run businesses across the country, such initiatives will help in expanding access to certification and best practices across tier-2 and tier-3 markets.
Nationwide Implementation and Industry Outreach
Under this partnership, Shringar will actively promote the IAGES accreditation framework and Code of Conduct across its nationwide network of 2,000+ retailers and wholesalers. This will drive the adoption of responsible and standardised practices at the grassroots level. The collaboration will also roll out joint initiatives, including online webinars on compliance and industry best practices, accreditation drives across Shringar’s partner network and awareness campaigns, both online and offline, to encourage broader adoption of the IAGES Code of Conduct.
Leadership Perspective on the Collaboration
Commenting on the collaboration, Mr. Chetan Thadeshwar, Chairman & Managing Director, Shringar House of Mangalsutra Limited, said “We have always believed that trust and transparency are essential in building a resilient jewellery industry. Our partnership with IAGES is a significant step in that direction, as we work towards strengthening ethical practices and standardisation across the ecosystem. By supporting IAGES’s accreditation mission, we look forward to driving meaningful change and setting higher benchmarks for the industry.”
IAGES Leadership Highlights Industry Impact
Mr. Kaushlendra Sinha, CEO, IAGES, added, “Shringar House of Mangalsutra’s is a respectable name in the Gold Induatry and their extensive reach across India’s jewellery retail landscape makes them a strong partner in advancing IAGES’s mission of driving transparency and ethical practices in the gold industry. This MoU will help accelerate accreditation awareness and adoption across their vast network, enabling us to collectively raise industry benchmarks and strengthen consumer confidence. We are thankful to Shringar leadership for proactively coming forward to promote the cause of transparency and good practices in the Indian Gold Industry.”
Role Clarity in the Partnership
Shringar’s extensive reach across India’s jewellery retail landscape positions it as a key enabler in amplifying IAGES’s accreditation mission. The company will work with IAGES to support accreditation outreach, while IAGES solely handles accreditation.
About Shringar House of Mangalsutra Limited
Shringar House of Mangalsutra Ltd. specializes in the design, production, and distribution of a wide array of Mangalsutras across India. The company boasts a portfolio of over 15 distinct collections and more than 10,000 active SKUs, tailored to meet the preferences of a broad customer base. Its clientele spans corporate buyers, wholesale distributors, and retail partners operating pan-India in 24 states and 4 union territories.
About Indian Association for Gold Excellence and Standards (IAGES)
IAGES is a Self-Regulatory Organization (SRO) created by the Indian gold industry, for the Indian gold industry and supported by the Gold Associations. IAGES aims to foster consumer confidence and trust in the Indian gold industry by encouraging fair, transparent and sustainable practices, regulatory compliance, and establishing codes of conduct.
IAGES Accreditation Framework and Vision
It has developed an accreditation framework, and this sets out how its members should assess their organization’s conformance with the established Code of Conduct.
Driving Organised Growth and Consumer Trust
The vision of IAGES is to “promote organized growth of the industry and enhance consumer trust in Gold by raising overall standards and adopt best practices across the value chain” comprising of Retailing, Manufacturing, Refining, Assaying and Hallmarking, Bullion Trading, Digital Investment Gold Retailing. The accreditation framework will serve as an enabler to achieve the vision.
FAQs
What is the purpose of the MoU between Shringar and IAGES?
The MoU aims to promote transparency, ethical practices, and standardisation in the gold jewellery industry.
How will this partnership impact retailers?
Retailers will benefit from increased awareness, access to accreditation, and adoption of best practices through Shringar’s network.
What role does IAGES play in this collaboration?
IAGES provides the accreditation framework and ensures compliance with its Code of Conduct.
Why is standardisation important in gold jewellery?
Standardisation ensures quality, builds consumer trust, and supports sustainable industry growth.
How large is Shringar’s network?
Shringar works with over 2,000 retailers and wholesalers across India.
Will consumers benefit from this initiative?
Yes, improved transparency and compliance will enhance trust and confidence in gold jewellery purchases.
Source: SVAR Media Network
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