Supply Chain Unveiled

In the city of Delhi, an intricate network of artisans and merchants weave together to transform raw gold into exquisite ornaments. Behind this dazzling display lies a complex global supply chain that stretches across continents and countries. Indian gold imports declined by 34% in 2020-21, according to data from the India Bullion and Jewellers Association, as domestic production rose steadily due to improved mining techniques and investments. The journey begins in mines like the Jindal Worldwide-owned Sukinda mine in Odisha, India. The mine’s raw gold is extracted through a combination of open-pit and underground mining methods, producing around 2 million ounces annually. After extraction, the gold is transported to refineries for processing. In this case, the gold is shipped to the Swiss-based refinery, Pamp Suhner AG, where it undergoes purification and alloying processes to create the desired product. The refined gold then makes its way to India, where local artisans meticulously craft ornaments using a range of techniques including filigree and granulation. To meet growing demand, Indian miners have turned to innovative technologies like mechanized mining and automation. This shift has not only increased production but also improved working conditions for miners. As global market trends continue to fluctuate, the Delhi-based jeweller must navigate an ever-changing landscape to maintain profitability in a highly competitive industry. Yet, with each passing year, India’s gold supply chain remains remarkably resilient, proving itself capable of adapting to shifting demands and emerging challenges.