National News
Gold imports up 40.79 pc to USD 2.68 bn in Jan
The country’s gold imports in January rose by 40.79 per cent to USD 2.68 billion on account of increasing domestic demands, according to commerce ministry data.Gold imports stood at USD 1.9 billion in January 2024.Cumulatively, imports during April-January this fiscal year rose 32 per cent to USD 50 billion against USD 37.85 billion in the same period last fiscal year.
The increase in imports also indicates strong investor confidence in the precious metal as a safe asset. The other reasons include asset diversification towards gold due to global uncertainties, increasing demand from banks, and cut in customs duties.Prices of the yellow metal have increased 11 per cent so far this year to ₹88,200 per 10 gram in the national capital.
National News
IFSCA Notifies India Good Delivery Gold Framework
GJEPC Seeks Swift Rollout and Global Recognition. The Framework Is Expected To Strengthen Responsible Sourcing, Build Confidence In Indian-Refined Gold and Create Opportunities For Bullion Exports.
GJEPC has urged the Government to expedite international recognition and the implementation of the India Good Delivery Gold framework, following the notification of the International Financial Services Centres Authority (IFSCA) (Good Delivery) Guidelines, 2026. The framework is expected to strengthen responsible sourcing, build confidence in Indian-refined gold and create opportunities for bullion exports.
The guidelines establish a framework for quality assurance, responsible sourcing and traceability in gold refining. IFSCA, India’s unified regulator for financial products, services and institutions operating in International Financial Services Centres, will implement the framework through the Bullion Exchange in the IFSC. Gold from accredited refiners that meets the prescribed requirements can qualify for delivery on IFSC exchanges and for over-the-counter trading.
The framework extends beyond the purity and quality of gold bars to address their provenance. Refiners must trace raw gold to its source, assess supply-chain risks, verify suppliers and beneficial owners, and meet applicable responsible-sourcing requirements. Independent third-party audits will provide additional assurance.
The initiative follows the recommendations by NITI Aayog, a policy think tank, which had called for an India Good Delivery Standard and responsible-sourcing guidelines for refineries. The report highlighted the potential of domestic refining to retain more value within India, generate employment and support exports.
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