Page 20 - Bullion World Volume 02 Issue 01 May 2022

Bullion World | Volume 2 | Issue 01 | May 2022

Sovereign Metals Limited is in the
business of refining precious metals
(gold and silver) and supplying
jewellers? And Can they provide other problems were regarding that consumers, investors and highest and most consistent quality
them with the physical gold the the mechanism behind monitoring regulators can trust for the very first products and related services and
same day? The IFSC representative exports to be issued, not having time. The need for this to happen solution to customers at their place
replied, “IFCS is promoted by end to end-user or captative is for all international stakeholders of convenience by leveraging its
CDSL, NSDL, NSE, MCX and consumption conditions, with to commit to the initiative, come competent and customer-focused
BSE through India INX and India 7108 11 00 (gold powder) and TEI together and support making it human resources, industry-leading
Clearing corporation at IFSC. We without any solid reasoning. happen, and see the bigger picture. technology infrastructure and
are working on an API; when one transparent and globally
does trade and the trade matches, A special address from WGC was Some working papers were compliant-sourcing practices.
we will deliver the Gold bar within on the integrity of Gold bars. WGC, presented, which could impact
30 mins. It will not wait for the along with LBMA, is doing this by making policy decisions. A survey Sovereign Metals Limited would
evening settlement cycle”. securing the chain of custody and on the working conditions of labour pursue environmentally sustainable
preventing fraudulent or illegitimate engagement in the Indian Gold manufacturing practices and would
The session on Understanding the bars from entering the formal gold jewellery industry depicted how strive to be a world leader in its
India-UAE CEPA for precious trade supply chain, which will be able to crucial a place of work is for all chosen segment from India.
discussed how the HS code 7112 foster greater trust in the integrity the labourers. The labourers work
is undefined and creates a cause of of gold and ultimately increase in most unsanitised environments
conflict with trade as there will be the participation of both financial with minimum wage. Overall, the
no limit on import duty. The Indian institutions, retail investors and of conference covered a wide range
Customs law/rules provide the course, the consumers. By working of topics, and they had a perfect www.sovereignmetals.in
details about this but don’t define together with all international round of discussions.
it enough. The main concern was partners in all major gold trading
with the notification of the Gold centres, WGC can create a global
complaint with TRQ. Some of the system of integrity and progress

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