1. Why India needs a Spot Gold Exchange?
Sanjeev Agarwal
Chairman- FICCI Gems and Jewellery Committee
CEO- Gitanjali Export Corp Ltd.

2. SURPRISING !!
Instead of the GOVERNMENT, it is the BULLION Industry asking for a regulatory body to oversee the SPOT Bullion Exchange Transaction.
The GOVT agrees with THE NEED but still NOT a priority
FM’s comments in a meeting on Excise levy on jewellery“...while the entire gold imports is through the official bank channels…. we have no idea where the gold flow subsequently…”
the Economic Affairs Secretary- Mr Shanktikant Das formally floated the idea at the IBJA conference in Dec 2015.

3. Need for Indian Spot Exchange
TRANSPARENT Price Discovery
based on domestic demand/ supply situation
UNIFORM India Gold Price
GST has already smoothened the process
ELIMINATE’s Counter Party Risk
Informal channels have limitations
REDUCE Working Capital/ Imports (?)
- No need for buffer stocks
REDUCE Interest Costs.
Gold Metal Loan <10% of working capital needs
6. ELIMINATE Quality Issues