Financial Daily from THE HINDU group of publications
Saturday, Nov 13, 2004
Financial Daily from THE HINDU group of publications Saturday, Nov 13, 2004 |
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Industry & Economy
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Gems & Jewellery 15-member panel to study structure of gold industry Our Bureau
New Delhi , Nov. 12 THE Government has announced constitution of a 15-member high-powered Committee, headed by the Commerce Secretary to examine the regulatory structure of the gold industry and recommend measures within six weeks to make India a gold trading hub. This is the follow-up action of the recent announcement made by the Commerce and Industry Minister, Mr Kamal Nath, at an International Gold Summit, organised here by The Associated Chambers of Commerce and Industry of India (Assocham) last month, according to the Chamber.
It will also suggest measures to improve trading in gold and also come out with remedies, required to ensure quality of the goods being traded. The Government has also asked the Committee to submit its final report within six weeks from the date of its first meeting, likely to be scheduled in next two weeks. The Committee consists of Commerce Secretary, Joint Secretaries of Finance and Consumer Affairs, representatives from RBI, SEBI, Forward market Commission, Bullion Association and Assocham. The National Commodity and Derivative Exchange, Gems & Jewellery Export Promotion Council and DGFT will also have representatives in the Committee.
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