India Plans Strategy to Import Gold

New Delhi: Union commerce ministry has called a meeting of gold jewellery exporters and domestic players to discuss issues related to supply of gold on Wednesday 7 January. Sources said that the government invite says that the meeting is being called to discuss how to ensure consistent and uninterrupted supply of gold to gold jewellery exporters, however it is quite possible that government wants to ensure that gold import doesn’t go up after removal of all restrictions.

Another source said that bullion sector being major contributor to employment generation, government could spell out their plan on the subject.

During 80:20 days there were no problems to exporters to get gold while following its removal, commerce ministry wants to ensure that such issues doesn’t arise again and hence issue to supply to them as well as need for other incentives will be discussed. Government has yet not spelt out its mind on what exactly it wants to do.