Issues and challenges before Indian Bullion Industry
- Importance of gold and silver rising all the more in the new era – Indian’s hoards around 15,000 tonnes of gold cherished at around Rs 90,000 crore!!
- Bring down octroi on silver, levy uniform 1% VAT on gold across the nation ,this will facilitate smooth, unrivalled trade between states as also smoothen the nascent bullion futures trade and the soon-to-be allowed investment in paper gold.
- Necessity to lower duty on import of raw gold, silver compared to those levied on import of finished bars
- Better vaulting facilities as also hall marking, assaying and refining facilities so as to utilize these to take reward of the available opportunities emerging in competitive bullion investment market in India
- Government should think granting permission once again to BBA to disseminate daily prices in the physical market