Page 8 - Bullion World Volume 4 Issue 9 September 2024

Bullion World | Volume 4 | Issue 9 | September 2024

Highlights of India Gold

Conference 2024

Inaugural Ceremony

Mr Vipin Raina, President Marketing, MMTC PAMP India Pvt Ltd,
Mr Sachin Jain, Regional CEO – India, World Gold Council, Ms Sakhila Mirza, Deputy CEO, London Bullion
Market Association (LBMA), H.E. Mr Javier Manuel Paulinich Velarde, Ambassador of Peru to India
Mr Prithviraj Kothari, National President, India Bullion & Jewellers Association (IBJA),
Mr Srivatsava Ganapathy, Director & CEO, Eventell Global Advisory Pvt Ltd.

Mr Prahlad Joshi, Honourable Minister of Consumer
Affairs, Public Distribution & Renewable Energy,
Government of India, expressed his confidence that
the recent budget rate cut on precious metals would be
well received by the bullion industry. He emphasized that
the reduction in tariffs would promote formalization and
professionalism, leading to further growth in the sector.
He highlighted the importance of safeguarding end-user
interests, a key focus of the Consumer Affairs Ministry.
He acknowledged the success of the hallmarking
program for jewellery, implemented by the Bureau of
Indian Standards (BIS), which has brought greater
trust and transparency to the system. Furthermore, he
mentioned that a committee is working on standard
operating procedures for introducing hallmarking for
gold bullion and silver jewellery, which will be rolled out
soon. The honourable minister announced plans to
launch educational programs in tier 2 and tier 3 cities
Honourable Minister Prahlad Joshi ji, Minister of to raise consumer awareness about buying gold and
Consumer Affairs, Public Distribution & Renewable silver, aiming to build consumer confidence. Lastly, he
Energy, Government of India (video message) commended the World Gold Council for their involvement
in launching the new SRO for the Indian gold industry.

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