Indian Bullion Market Association (IBMA) – The Pan India Platform of Bullion Trade and Industry
Issues Related To Bullion Trade & Industry
Anjani Sinha President Indian Bullion Market Association Ltd.
IBMA: An Introduction
• IBMA : The Indian version of LBMA • Develop a pan India Institution for helping the bullion trade and industry • To be a national forum for resolving all matters relating to bullion trade and industry • To interact with the Government, RBI, etc. regarding policy decisions affecting bullion trade
Market Potential • India : – Largest – Largest – Largest – Largest
importer consumer exporter of Jewellary Household stock
• Size of Bullion trade more than Rs. 3000 billion p.a. • Size of Household stock Rs. 30000 billion • Still India does not play a dominant role in price discovery….Why?
Issues faced by Bullion trade and industry
ISSUE NO. 1 INCREASE IN CUSTOM DUTY ON GOLD AND SILVER
Issues faced by Bullion trade and industry
ISSUE NO. 2 RELAXATION IN IMPORT AND EXPORT OF GOLD AND SILVER BARS
Issues faced by Bullion trade and industry
ISSUE NO. 3 REDUCTION IN IMPORT DUTY ON RAW GOLD
Issues faced by Bullion trade and industry
ISSUE NO. 4 BANK LOAN IN BULLI0N BUSINESS
Issues faced by Bullion trade and industry
ISSUE NO. 5 CODE OF CODUCT, PROFESSIONAL ETHICS AND GOOD BUSINESS PRACTICES
Issues faced by Bullion trade and industry
ISSUE NO. 6 TRANSPARENCY IN PRICING AND INFORMATION
Issues faced by Bullion trade and industry
ISSUE NO. 7 PREPARING OURSELVES BEFORE IMPLMENTATION OF GST AND DEVELOPMENT OF COMMON INDIAN MARKET
Issues faced by Bullion trade and industry
ISSUE NO. 8 SPOT TRADING IN CUSTOM BOND VAULT RECEIPT
Thank you