Is there 800 tonnes of gold in RBI's locker? If this is used, the economy of our country will be of great benefit, says Rajaram. Let's see in detail what it is.
What is the gold refining capacity of India
He further said, As India is the largest importer of gold in the world, it would be convenient to set up a gold refinery here. Apart from being the hub of hammer gold trade, India has the potential to play a key role in its supply chain.
Considering that India is a major importer of gold, there are great opportunities for refining here as well.
India imports 250 tonnes of gold bars annually for refining.
Consideration should be given to gold refining at Gipt City, Gujarat. Regulations for its implementation are in place and, if any improvements are required, the same can be considered. If these measures require some changes in tax policies or customs duties, the same will certainly be considered.
Since gold is as important a commodity as land, we need to find ways to monetize it. Most of the gold is in public cupboards and 800 tonnes of gold is locked in RBI lockers.
We need to find out whether this can be used in a beneficial way for our economy.
Said this. He, IFSCA Development of Financial Products, Financial Services and Financial Institutions of International Financial Services Centers in India. And it is noteworthy that the unified authority for regulation.