The Federation of Indian Chambers of Commerce and Industry (FICCI) and the World Gold Council (WGC) have made several recommendations including the creation of an India Gold Exchange and the establishment of a Gold Board to help the government manage imports and boost exports while improving price transparency.
In a report, “Why India needs a gold policy”, published today, FICCI and WGC have made seven recommendations for an effective Gold Policy in India. The report says that an Indian Gold Exchange can help pricing standardisation and improve supply and demand analysis, while a Gold Board can be established to manage imports, encourage exports and facilitate development of the infrastructure needed to ensure the Indian gold market functions to maximum effect.
Source:thedollarbusiness