Union Government to set up a domestic Gold Council in India for promotion of growth in the jewellery sector

India is the largest consumer of gold and also one of the main importers. Large trade deficit and depreciation in the rupee against the US dollar are putting pressure on the CAD.
Vamsi Athreya

Updated: Nov 26,2018 12:03:47 pm

Union Government to set up a domestic Gold Council in India for promotion of growth in the jewellery sector

26 November 2018 Current Affairs:Union Commerce and Industry Minister Suresh Prabhu announced the government’s intention to set up a domestic Gold Council in India for the growth in the jewelry sector.
The main objective of the council is to constitute an integrated Gold policy to address all the issues faced by the sector.
The commerce and the Finance Ministry will be working together in this regard.
This will help make sure that gems and jewelry business does not suffer from financial issues and would also extend domestic support to the exports.
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