Gold and Bullion Trade Policies

Objectives

• Develop a comprehensive understanding of the historical evolution and current state of gold and bullion trade policies, both in India and globally.
• Analyze the objectives and outcomes of government interventions, such as import duties, export incentives, and gold monetization schemes, and their impact on market transparency and economic growth.
• Critically assess compliance frameworks and their role in fostering ethical and legal trade practices.
• Examine the functions and mandates of regulatory bodies in overseeing bullion trade, ensuring market integrity, and implementing policy reforms.
• Explore challenges and opportunities related to policy enforcement, including issues of smuggling, grey markets, and the transition to digital gold platforms.
• Engage with global best practices and policy innovations, drawing lessons for the Indian context and identifying pathways for reform.

Contents

Historical Context and Market Structure

• Evolution of gold as a monetary and trade asset
• Structure of bullion markets: physical vs. derivatives, retail vs. institutional

Compliance, and Regulatory Policy Frameworks

• Overview of Indian gold trade policies: import/export controls, duty structures, hallmarking, and monetization
• Comparison with international regulatory approaches (e.g., LBMA standards, US and EU frameworks)

Policy Instruments and Market Impact

• Analysis of import duty changes, the 80:20 rule, and their effects on legal and illegal trade flows
• Impact of taxation (GST, customs duties) on pricing, supply chains, and consumer behaviour

Market Mechanisms and Infrastructure

• Price discovery: OTC vs. exchange-traded platforms (MCX, BSE)
• Quality assurance: hallmarking, standardization, and certification

Recent Reforms and Emerging Trends

• Duty reductions, gold spot exchanges, and digital gold products
• Policy responses to smuggling, informal markets, and global price volatility

Bullion supply chain and Bullion banking

• Sourcing, Mining and Refining, Processing, Hallmarking, Logistics, Jewelry and Retail
• In-depth examination of bullion banking and comparative analysis of India’s gold policy with other major markets

Pedagogy

The programme will adopt an interactive and immersive learning approach, including:

1.  Case Study Discussions

2.  Industry Interactions and Visits

For Whom

This programme is open to traders, market professionals, industry experts, and government officials involved in the gold and bullion sector. We invite professionals and stakeholders who are engaged in policy, trade, regulation, or administration related to gold and precious metals. Stakeholders such  as entrepreneurs, regulators, and other professionals working in or with the gold ecosystem may also find the programme highly valuable.