Popular Searches
Senior Management Programme (Batch 17) Legal Counsels Management Development Programme B2B Marketing Financial Reporting and Corporate Governance (Batch 5)
Quick Links
Life @IIMA The Campus FAQs
Contact Us FAQs

Programmes

Programme

Gold and Bullion Trade Policies

Connect for Enquiries:

Ms. Vidya Kadamberi: gbtp-exed@iima.ac.in | +91 70690 74821 (Office hours Mon to Fri, 9:00 AM to 5:45 PM)

The gold and bullion sector in India plays a critical role in the country’s cultural, economic, and financial fabric.

The programme on “Gold and Bullion Trade Policies” offers a thorough exploration of bullion trade policies, covering the intersection of regulation, market dynamics, and governance in the precious metals sector. Designed for industry professionals, regulators, and policy planners and analysts, the curriculum combines in-depth trade data analysis with real-world case studies to foster a clear understanding of the gold and bullion trade ecosystem, in particular reference to Indian economy. Despite the significance of bullion, formal academic training and policy discourse around the gold and precious metals market remains limited and fragmented.

Gold and bullion play a pivotal role in global and national economies, serving as both investment assets and instruments of financial security. India, as one of the world’s largest gold consumers and importers, faces unique challenges and opportunities in regulating the bullion market. The sector is influenced by evolving trade policies, compliance mandates, and international best practices, all of which shape market behaviour, price stability, and economic development.


  • 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.

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

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

1.  Case Study Discussions

2.  Industry Interactions and Visits


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.

Faculty Chair(s)
Profile image
Prof. Sundaravalli Narayanaswami

Promotion Coordinators
Profile image
EEP Vidya Kadamberi

Programme Coordinator Promotion

iima-exed03@iima.ac.in
Introduction

The gold and bullion sector in India plays a critical role in the country’s cultural, economic, and financial fabric.

The programme on “Gold and Bullion Trade Policies” offers a thorough exploration of bullion trade policies, covering the intersection of regulation, market dynamics, and governance in the precious metals sector. Designed for industry professionals, regulators, and policy planners and analysts, the curriculum combines in-depth trade data analysis with real-world case studies to foster a clear understanding of the gold and bullion trade ecosystem, in particular reference to Indian economy. Despite the significance of bullion, formal academic training and policy discourse around the gold and precious metals market remains limited and fragmented.

Gold and bullion play a pivotal role in global and national economies, serving as both investment assets and instruments of financial security. India, as one of the world’s largest gold consumers and importers, faces unique challenges and opportunities in regulating the bullion market. The sector is influenced by evolving trade policies, compliance mandates, and international best practices, all of which shape market behaviour, price stability, and economic development.

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.

Faculty Chair
India Gold Policy center (IGPC), at IIM Ahmedabad.

Dr Sundaravalli’ s teaching interests are in Transportation Studies (Urban, Intelligent Systems, Heavy and Light rails, Transport Infrastructure), Operations Research in public systems, Operations Management, Artificial Intelligence and Government Systems and Policies. Most of her research in the past and present are in transportation operations and knowledge management that involve applications of ICT and OR tools in real-life problems of large impact. Her most recent book is “Intelligent Transportation Systems: Concepts and Cases”, published by Cambridge Scholars Publishing, UK.

Dr Sundaravalli started her career in IT services marketing, and she soon moved to a production profile in an electronics equipment manufacturing industry. Her academic career began later, and she has taught at various programs in Mumbai University and at Institutes under the UAE Federal education ministry in Abu Dhabi and Dubai. She has also taught in many Executive development programs while in the UAE. She has authored three books on transportation systems. She also publishes and reviews regularly for scholarly editorials and presents her research findings among peers, both in India and abroad.

Dr Sundaravalli holds several professional affiliations. She was awarded the Fellow of the British Computer Society in 2008. She had served as the Youth Professional Group representative of the entire Middle East region for the British Computer Society. She is the honored recipient of the Distinguished Educator Award for the year 2018 from the International Society of Industrial Engineering and Operations Management (IEOM), received in Johannesburg, South Africa.

Dr Sundaravalli has extensive consultancy experience, mainly with Government organizations in policy decisions related to transportation, technology management, anti-corruption, good governance and policy administration.

A complete profile of her is available at http://www.iima.ac.in/~sundaravallin and she can be reached at sundaravallin@iima.ac.in

">
Profile image
Prof. Sundaravalli Narayanaswami

Dates

19 Nov 2026

to

21 Nov 2026

Duration

3 Days

Programme
Fees

INR 1,20,000

Plus 18% GST

Application Deadline

05 Nov 2026

Early Bird
Fees

INR 1,11,600

Plus 18% GST

Early Bird Deadline

29 Oct 2026

Apply Now Pay Fees
Download Brochure