Structuring India's Gold Policy.

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Presentation transcript:

Structuring India's Gold Policy. New Delhi, 5 Aug 2017

Historical perspective Fully restricted policy Banks freely engage Import of Gold Removal of restrictions on derivatives Imports by Status Holders Ban import of coins 80:20 introduction and removal Increase in customs duty from 0-4-10% 1% Excise on jewelry GST regime w.e.f. 01 July

The official gold market value chain has four distinct players https://thelogicalindian.com/news/how-gold-obsessed-is-india-know-the-facts-about-private-gold-why-govt-need-it/ World Gold Council 2015 report http://in.reuters.com/article/india-gold-deposit-bank-interest-idINKBN0O41JP20150519

How should we harmonize Gold policy with Indian’s broader vision

Why has framing gold policy been instinctively challenging? Comparing Oil and Gold

The real economic potential of gold can only be unlocked by drawing on collective wisdom INTERNATIONAL COMMODITY CENTRAL BANKS GOLD VALUE CHAIN FINANCIAL INCLUSION GLOBAL STANDARDS EXPORTS BANKING SYSTEM

ONE STEP AT A TIME

Make in India – Export / Import https://thelogicalindian.com/news/how-gold-obsessed-is-india-know-the-facts-about-private-gold-why-govt-need-it/ World Gold Council 2015 report http://in.reuters.com/article/india-gold-deposit-bank-interest-idINKBN0O41JP20150519

Make in India – Export / Import https://thelogicalindian.com/news/how-gold-obsessed-is-india-know-the-facts-about-private-gold-why-govt-need-it/ World Gold Council 2015 report http://in.reuters.com/article/india-gold-deposit-bank-interest-idINKBN0O41JP20150519

Good Governance https://thelogicalindian.com/news/how-gold-obsessed-is-india-know-the-facts-about-private-gold-why-govt-need-it/ World Gold Council 2015 report http://in.reuters.com/article/india-gold-deposit-bank-interest-idINKBN0O41JP20150519

Digital India https://thelogicalindian.com/news/how-gold-obsessed-is-india-know-the-facts-about-private-gold-why-govt-need-it/ World Gold Council 2015 report http://in.reuters.com/article/india-gold-deposit-bank-interest-idINKBN0O41JP20150519

Financial inclusion https://thelogicalindian.com/news/how-gold-obsessed-is-india-know-the-facts-about-private-gold-why-govt-need-it/ World Gold Council 2015 report http://in.reuters.com/article/india-gold-deposit-bank-interest-idINKBN0O41JP20150519

Skill Development in India https://thelogicalindian.com/news/how-gold-obsessed-is-india-know-the-facts-about-private-gold-why-govt-need-it/ World Gold Council 2015 report http://in.reuters.com/article/india-gold-deposit-bank-interest-idINKBN0O41JP20150519

At any time, India accounts for around 25% of the demand for gold in the global economy. This demand straddles all sections of society. A gold policy must harmonize with India’s broader vision.

THANK YOU