14th India International Gold Convention on 11-13 Aug 2017 at Grand Hyatt, Goa. Concluded Successfully...
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Sergey Nenashev
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Editor's Voice
GJEPC has recently pointed out that gems and jewellery export could decline by 30% in FY 18. Levy of iGST on gold imports and the gestation time involved in getting refund and 5% import duty imposed by UAE are the main reasons. Government is aware of this and hopefully would look at improving competitiveness of Indian gem and jewellery exports. Government has extended the time to get BIS license for gold refiners to become eligible for importing dore till May 2018. This will give time to refiners to obtain clearance certificate from NABL to be eligible for applying for BIS license. This measure will ensure Indian consumers will get quality products. A robust testing facility in a refinery is prerequisite condition for the refiner to produce world class bars and coins. I believe the current measure will pave the way for creating an Indian Good Delivery Standard that we are looking at.
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Quote from IIGC 2017

I must congratulate first Foretell for organizing such an excellent conference. As gold convention centres around gold, we find here every stakeholder like banks, refineries, bullion dealers, jewellers, intentional organizations like LBMA, DMCC, SBMA, WGC and many others. We have delegations from African countries. So when all are here, we can definitely say that since India is going through this transformation, we are standing up to become best in the world. We have established our leaderships in various sectors like space technology, and others. This is again one area where we can establish our leadership. Time will come when India will define everything related to gold because we are going to be the largest consumers of gold and we are going to be an industry where we have the largest capacity to do the handcrafting of jewellery from gold and therefore taking that into the account, if everybody comes together – if the bankers come together, various agencies working in the industry come together – I think synergy can definitely help us achieving a vision where we will be world leaders in this and we will be deciding the fate of gold and gold industry in the world.

- Shri Manoj Kumar Dwivedi, IAS

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