Gold market India reform at latch!

Estimating Trends for
Gold Market in 2022!

Transforming India’s gold market

Now it is true that Narendra Modi is returning to PMO with a huge of the majority. Body language of Narendra Modi had indicated that he would be quite ready with the priorities list for first 100 days & bureaucrats are inking in order. The Modi Government 2.0 has a clear idea for gem & jewellery industry & trade. They have enough working & report and committed to transform gold market India!

Indeed it is a worst part for industry & trade that they suffer a lot in the absence of adequate gold policy. Recognizing the criticality and untapped potential of the gold market for providing a stimulus to exports, economic growth and employment, a Committee on ‘Transforming India’s Gold Market’ was constituted by NITI Aayog under Chairmanship of Ratan P. Watal.

The committee formulated to recommend measures for Transforming the Gold Market Ecosystem in the country. The Committee brought together diverse stakeholders from across the gold ecosystem, including representation from the concerned Ministries /Departments of the Government of India, RBI, industry associations and academia.

The themes were: Current Industry Profile, Market Segmentation & Estimating Trends for Gold Market in 2022 including Bullion Exchange, Trade and Investment Issues – Incentive Structure & Ease of Doing Business, Regulatory Framework for Gold, Tax Issues, Gold in the Financial System and Digital Payments, Bridging Skill Development and Employment Generation & Technology Upgradation. Various experts also enriched the sub group deliberations.

Now the report is being with the ministry and requires implementation direction further and it is presumed that sooner this would undertake the reform for gold market India. (Exclusively edited by Nayan Jani, veteran gem & jewellery trade media, Mumbai)


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