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Gold Import Policy will Assess by Government – Anand Sharma
Posted on: 04/Jan/2014 12:46:53 PM
On Friday, the Commerce and Industry Minister, Anand Sharma, said that the government will curtail the gold import in order to hit a balance among the demands. Also he added that, the Directorate General of Foreign Trade (DGFT), the commerce secretary, the economic affairs secretary and Reserve Bank of India (RBI) will converse and give out a final decision. But the meeting ended without any time lines. Based on the demands of the industry, the necessities will be taken by the finance minister.
He said that there will be enough gold for the gems and Jewelers industry and people will not bring in thought for smuggling. The ministry will get 20 percent more on value addition to the exported gold.
The state PSUs make certain for the enough and constant gold for gems and jeweler sector business. Sharma said that the media will concentrate on the coal import division.
He added that there are few things which harm Indian economy and that will be a subject of national concern. That is where adherent politics have come in that India was not able to mine the coal which India survives. On trade debit, it would be much less than the last year.
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