15th International Gold Economic Forum, "Role of Gold in Reshaping the Global Economic Order"

Special Address: 

Dr. C. Rangarajan

Former Chairman - Economic Advisory Council to the Prime Minister of India &

Former Governor - Reserve Bank of India

Invited Dignitaries:

• Saurav Sinha, Executive Director, Reserve Bank of India
• Alok Kumar Choudhary, Managing Director, State Bank of India
• Ms Chitra Gupta, Scientist - F & DDG (FMC, Hallmarking & Registration), Bureau of Indian Standards (BIS)
• Somasundaram P R, Regional CEO - India, World Gold Council
• Jeffery Rhodes, Founder, Rhodes Precious Metals Consultancy (RPMC), UAE
• Rhona O’Connell, Head – Precious Metals, StoneX, London
• Harish Pawani, Director, Peekay Intermark Ltd

Gold is an integral part of Indian society and a foundation of wealth and savings in our country. India accounts for nearly one-third of the total world demand for Gold. Gems and Jewellery sector plays a significant role in Indian economy, which is contributing about 15 percent to India\'s total merchandise exports and employing over 4.64 million people. India’s gems and jewellery exports reached US$ 39.14 billion in 2021-22, a 54.13% rise from the previous year, while the export during April-March 2023 stood at US$ 37.95 billion. India’s gems and jewellery exports are expected to reach US$ 100 billion by 2027.

At about 24,000 tonnes, Indian households hold the largest stock of gold in the world. The country has one of the highest saving rates in the world, estimated at around 30% of total income, of which about 10% is invested in gold. The Government recognizes that development of gold industry is an essential in upgrading India’s financial industry. Therefore, the Government has launched the Gold Monetisation Scheme and Sovereign Gold Bond Scheme & implemented hallmarking scheme to protect the consumer in purchasing gold jewellery of requisite purity, develop export competitiveness and make India a leading market for gold jewellery in the world.   

The Government has undertaken various measures recently to promote investment and upgrade technology and skills to promote ‘Brand India’ in the international market. The Government has permitted 100% FDI in the sector under the automatic route, wherein the foreign investor or the Indian company do not require any prior approval from the Reserve Bank or the Government of India. The Indian Government also signed a Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates (UAE) which will allow the Indian Gems and Jewellery industry to further boost exports.

Therefore, in the light of changing consumer preferences and res-setting globalization, there is need for next phase of reforms towards Atmanirbhar Bharat and making India a market maker in gold economy. In order to discuss these aspects further, ASSOCHAM is organizing "15^th International Gold Economic Forum - Role of Gold in Reshaping the Global Economic Order\" at 10:00 a.m. on December 1, 2023 at Hotel Lalit in New Delhi. There will be a large participation by the stakeholders including the Government, Reserve Bank of India, Bullion Banks, Bullion Industry, Commodity Exchanges, Mining and Refining, Technology Providers and Investors, etc. 

In view of the importance of the subject, we would request you to kindly participate in this important forum and also nominate your colleagues to attend the same. We would also request your organization to be the PARTNER / SPONSOR for the forum as per details enclosed for your kind reference.