The India Gold Policy Centre (IGPC) at the Indian Institute of Management Ahmedabad (IIMA) organised the 7th Annual Conference on Gold and Gold Markets on February 15 – 16, 2024 at Bharat Mandapam, New Delhi.
The two-day conference featured about 40 speakers and witnessed the presentation of 16 research papers, in addition to panel discussions featuring experts from the industry, academia, and policy. While the highlight of the conference was the recent circular from RBI that allows banks to participate in the India International Bullion Exchange, the conference deliberated responsible practices in the gold value chain and supply chain and the trends on increased use of technology in the gold eco-system.
The conference was inaugurated by Professor Bharat Bhasker, Director, IIMA, who highlighted the close relationship between gold markets and India’s recent transformations. He emphasized the importance of embracing global challenges, building trust, and leveraging technology to ensure growth in the gold industry, particularly with initiatives like the International Bullion Exchange and Gold Spot Exchanges. He congratulated IGPC for bringing all stakeholders together each year to address the challenges and identify opportunities in this domain through this conference.
Shri K Rajaraman, IAS, Chairperson, IFSCA; Dr TV Somanathan, Finance Secretary, Ministry of Finance, Government of India; and Shri Somasundaram PR from the World Gold Council; were the distinguished guests who graced the occasion with their presence.
Professor Sundaravalli Narayanaswami, Chairperson, IGPC, expressed confidence in the conference’s ability to foster discussions on key issues such as financial inclusion and gold policy. She highlighted the IGPC inputs to the policymakers on GMS, mandatory hallmarking, rationalizing duty structures, and setting up of spot exchange trading systems for gold in India, together with the study of consumption patterns in gold by Indian households.
Since its establishment in 2014 as an independent think tank and policy advisory on all matters related to Gold, the IGPC has provided research-driven, unbiased policy recommendations. Over the years, the IGPC conferences have provided the only platform in the country that brings together academia, policy and industry in a single forum to discuss various aspects of gold. The industry has been appreciative of the relevance of the conference in encouraging healthy and unbiased discussions on contentious issues. This conference signifies their commitment by fostering participation from policymakers and experts across diverse fields.