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A committee to examine the regulatory structure of the Gold Industry to make India a gold trading hub has been constituted by the Ministry of Commerce.
The committee has following terms of reference:
i) Improving the scope of measures to be undertaken to facilitate banks to hedge in Future Markets on Gold.
ii) Recommend measures to facilitate Mutual Funds to invest in gold.
iii) Recommend measures to improve the ability of the banks to implement Gold-Linked Saving Scheme.
iv) Recommend appropriate customs and foreign trade measures that are required to be undertaken to facilitate manufacturing and trading in gold.
v) Any other recommendation required to be trading in gold and also on measures required to ensure quality of the goods being traded.
The findings of the Committee are expected to improve the prospects of Gold Trade in the country.
This was informed by Shri EVKS Elangovan, Minister of State for Commerce & Industry, in a written reply in the Rajya Sabha today.
SB/MRS
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