Wednesday, 20th April 2005 (2876 views)

The Indian government has created a new committee to help make India a gold trading hub.

According to the government, the committee will examine the regulatory structure of the gold industry.

According to Shri EVKS Elangovan, minister of state for commerce & industry, the committee will help to improve the prospects of gold trading in the country.

The committee has been set a number of targets or issues to look at, such as improving the range of measures to be carried out to allow banks to hedge in future markets on gold.

In addition, the committee will need to recommend measures to help mutual funds to invest in gold and ways to improve the ability of banks to conduct gold-linked savings schemes

The government is hoping the committee will also recommend appropriate measures and customs to be introduced to help gold trading and manufacturing and suggest any other recommendations for gold trade and to ensure good quality.

 

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