Page 21 - Bullion World Volume 02 Issue 08 August 2022

Bullion World | Volume 2 | Issue 08 | August 2022

it would change the trade flows for the better. All these gem and jewelry sector contributes 7% to GDP and
collectively present a unique opportunity to the sector. 15% to merchandise export. It is selectively organized.
Our possibility to contribute to the GDP growth of It got the impetus from SEBI and IFSCA recently. As
the country is humongous and time is appropriate to a Market Intermediary institution (MII), we consider
harness the same. it our responsibility to continue to innovate to bring
useful products and services for risk management.
At MMTC PAMP, we try and continue to raise the bar in The world's one and only one-gram deliverable
whatever we do. We are trying to be the first player to product saw over 61,000 units delivered. Likewise,
create a truly circular economy in India in the precious 131 tonnes got delivered in silver one kg contract.
metals sector. To put it simply, starting from refining to The gold options launched in 2017, recently touched
minting to recovery, thereby completing the full cycle. 4000 cr in May 2022. On the regulatory front, I place
Through this initiative and many others, we would like on record the incredible framework put in place by our
to be a responsible contributor to the Indian economy. regulatory, IFSCA. The Qualified Jewellers framework
We have also started the process for ESG certification is one fine example of it. Through our reach out, 61
2030 in conjunction with SBTI targets. It is a long participants have become QJs. On the domestic side,
process but our journey has begun. SEBI has been proactive on spot gold exchange. We
have realized that the industry participants must have
the benefit of all these products on one platform. We
are actively working on the same. EGR leads to the
financialization of gold. This would enable institutions
such as mutual funds to tap into creating portfolios and
innovative products.

Special address of Mr Kamlesh Sharma, GM &
Head, PM Department, IFSCA:
For complete transcript refer page number 14

Mr Jayantilal J Challani, President, The Jewellers
and Diamond Traders Association, Madras: We
are very happy to host India Gold Conference in
Chennai. Such activities will make the southern
gold and jewellery market strong. We welcome all of
you here and hope you have two very good days of
conferencing.

Keynote address of Mr Ahmed Bin Sulayem,
Executive Chairman & CEO, DMCC:
DMCC, when conceptualized, was a gold initiative.
From inception, there has been a lot of participation
from the Indian community – be it in technology,
market development, and in almost every field. We
contributed to it. At present, three refiners operate
Mr Shivanshu Mehta, Head – Bullion MCX: Gold in Dubai. There is soon going to be a fourth one.
proved itself yet again during the covid times. The India leads the market when it comes to gold. It is an

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