Has the increase in import duties significantly impacted gold imports?
There are reports, which suggest some grey market movements in some of the Southern states. However, we do not have any specific information to quantify the extent or impact. Does WGC have any update on the proposed mining policy in India? What are the changes expected in the policy? We are yet to hear on the issue. We seek a unified mining policy, which is adhered to by the state governments. While there is a central policy, the states have their own policies as well. What are some of the suggestions you have as a council to further spur demand for gold? Our wish-list includes permitting inter-bank trading of gold, which is currently not the case. Gold also acts as a social security; we are hopeful that the government would bring in some sort of a tax benefit/relief for working women. The criteria for this tax benefit would be a) the buyer is a working women b) the gold is brought from the government mint or MMTC or Indian Postal Services and c) this gold will not be sold for the next
