Agri Business

Gold convention at Kochi focusses on streamlining bullion industry

Our Bureau Kochi | Updated on August 03, 2018

 

The 15th India International Gold Convention has commenced here on Friday with palpable optimism following the release of NITI Aayog report on Transforming Indian Gold Markets this February.

Over 400 delegates representing different limbs of gold industry from India and abroad, trade organisations, financial institutions and policy experts are attending the deliberations on the newer opportunities and future plans in view of the changing face of gold industry in the country.

The gathering consists of 11 bullion banks, 6 nominated banks, 6 international refiners, 25+ domestic refiners, leading jewellery manufacturers from India, official/trade representatives from Canada, Peru, Ghana, Liberia, Myanmar and Singapore.

The conference is organised by Foretell Business Solutions in association with India Bullion and Jewellers Association (IBJA). Suresh Prabhu, Union Minister of Commerce and Industry, in his message said that India has huge resources, market infrastructure and potential to become the export hub for gold and gold products.

Inaugurating the conference, Senthil Nathan S, Deputy Secretary, Commerce Ministry, emphasised the need to capitalise on the country’s intrinsic capability to manufacture value-added gold jewellery for the global market with craftsmanship, technology and design capabilities.

The new policies are mainly aimed at building the institutional, regulatory and market infrastructure to streamline the industry, bring transparency and increase the global acceptance of gold and its products from India, he said.

There are special sessions on the changing face of gold imports into India, NITI Aayog recommendations titled ‘Make in India in Gold,’ ‘Proposed Bullion Exchange of India’, ‘Financialisation of gold’, ‘Proposed Domestic Council Skilled Development and Employability’ and ‘Proposed Tax reform’.

Published on August 03, 2018

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