About GoldRate by INDOSYS
1. Who We Are
GoldRate by INDOSYS (https://goldrate.indosys.in) is a digital bullion calculation and consumer transparency initiative engineered by INDOSYS, an independent technology and analytical software firm headquartered in Mumbai, India.
Gold in India is not merely an ornament or financial asset; it represents generational heritage, emotional milestone celebrations, and family financial security. Despite its cultural and economic prominence, buying gold jewellery in physical retail showrooms has historically been fraught with opaque fee structures, confusing craftsmanship markups, and unstandardized wastage percentages.
We engineered GoldRate to demystify every single rupee in a jewellery invoice—allowing any shopper or trade professional to compute the true, unvarnished retail cost of gold ornaments within seconds.
2. Our Core Mission: Complete Pricing Transparency
Our platform was built on three foundational pillars designed to protect consumer interests:
Net Pure Gold Valuation
Ensuring consumers are never charged gold rates on embedded precious stones, CZ, or enamel weight. Gold must always be priced strictly on verified net metal weight.
Making & Wastage Demystification
Providing clear distinctions between labour fees (making charges) and metal recovery allowances (wastage), enabling shoppers to negotiate from an informed position.
Statutory Compliance
Reinforcing Central Government mandates, including the mandatory 6-digit HUID BIS hallmarking fee (₹45/piece) and statutory 3.0% GST under HSN Code 7113.
3. How Our Benchmark Rates Are Sourced
To maintain strict objectivity, our platform synchronizes its baseline purity rates (24K, 22K, 18K, 14K) with official sessions published by the India Bullion and Jewellers Association (IBJA):
- Morning Benchmark Session: Approximately 11:45 AM IST on national business trading days.
- Evening Closing Session: Approximately 5:00 PM IST on national business trading days.
These IBJA rates serve as the national sovereign benchmark recognized by the Reserve Bank of India (RBI) for pricing Sovereign Gold Bonds (SGB) and evaluating bank gold loans.
4. Head Office & Entity Profile
GoldRate is wholly owned and operated by INDOSYS. We welcome user feedback, institutional partnerships, and inquiries from consumers and jewellers across India:
Company: INDOSYS
Address: 209, Sarnath tower, Buddha Nagar CHS, Govandi, Mumbai - 400043, Maharashtra, India
Official Inquiries: indosys11@gmail.com
Website: https://goldrate.indosys.in