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Programmes

Programme

Gold and Bullion Trade Policies

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.

 

For more information or any questions, contact Mr. Rahul Gupta: rahul-exed@iima.ac.in | +91 87588 00397

  • 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

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.

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

1.  Case Study Discussions

2.  Industry Interactions and Visits

 

Faculty Chair(s)
Profile image
Prof. Sundaravalli Narayanaswami

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.

 

For more information or any questions, contact Mr. Rahul Gupta: rahul-exed@iima.ac.in | +91 87588 00397

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
Who Should Attend

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.

Pedagogy

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

1.  Case Study Discussions

2.  Industry Interactions and Visits

 

Faculty Chair
Profile image
Prof. Sundaravalli Narayanaswami

Dates

12 Oct 2025

to

14 Oct 2025

Duration

3 Days

Programme
Fees

INR 1,20,000

Plus 18% GST

Application Deadline

01 Oct 2025

Early Bird
Fees

INR 1,11,600

Plus 18% GST

Early Bird Deadline

29 Sep 2025

Registration closed

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