The gems and jewelry industry, which contributes over 15% of India's total merchandise exports and employs about 4.64 million people, is important to the Indian economy.
The government is aware that expanding the gold industry is important in upgrading India's financial sector. To protect consumers while buying gold jewelry of the required purity, increase export competitiveness, and establish India as a major global market for gold jewelry, the government has implemented the Gold Monetization Scheme, Sovereign Gold Bond Scheme, and hallmarking scheme.
However, due to increased local demand, gold imports—which have an impact on the nation's current account deficit (CAD)—rose by 22.58% to USD 34.6 billion in 2020–21. Therefore, the next stage of reforms towards Atmanirbhar Bharat and making India a market maker in the gold economy are required in view of shifting consumer preferences and resetting globalization.
Keeping all these things in mind, ASSOCHAM is organizing the "14th International Gold Economic Forum" at Hotel Shangri-La, New Delhi on November 17, 2022, to further discuss these topics.
Topics to be discussed
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Channelizing Gold in Financial system for Lowering CAD: Future Direction
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SRO for Global Benchmarking Opportunities, Challenges, and the Way Forward
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Digital Gold: Creating Right Governance and Enabling Infrastructure
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Mining, Refining & Recycling: The Changing Landscape
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India A Market Maker in Global Gold Economy: Creating a Vibrant Bullion Industry
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Gold Market- Regulatory Issues and Future Policy Direction
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Gold-based financial products- creating standard products
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Digital Gold and Gold Recycling Policy
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Gold Dore & Refining- issues & prospects
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Role of Gold Exchanges- Future direction
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Aggregation of gold App and transparency
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India’s Emergence as Global Hub for Gold Trading
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Customer Interface- creating an innovation center to bring consumer Bank
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Role of Banks and nominated agencies in Bullion
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Monetizing of gold, replicating returns of gold
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Bullion Derivatives- New Products & market opportunities
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Gold- Mine Production/Refining trends and Outlook
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International perspective on gold ETFs
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Role of NBFCs in Gold Loans
Several policymakers, government officials, exporters & importers, bullion & jewelers associations, and many others will participate in this event. Some of the eminent speakers are:
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Sumita Dawra, Special Secretary, Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, GoI
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Sanjay Lohiya, Additional Secretary Ministry of Mines, GoI
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VS Sundaresan, Executive Director, Securities, and Exchange Board of India
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Mrugank Paranjape, Chairman, National Council on Commodity Markets, ASSOCHAM & Managing Director & CEO, NCDEX e Markets Limited (NEML)
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Deepak Sood, Secretary General, ASSOCHAM
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Somasundaram PR, Regional CEO-India, World Gold Council (WGC)
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Nick Spencer, Managing Director, Galaxy Gold Mines
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Nitin Khandelwal, Past Chairman, All India Gem and Jewellery Domestic Council (GJC)
