The setting up of the gold board was cited as a need for the industry, as currently the decisions regarding gold were orchestrated by the Directorate General of Foreign Trade, the Reserve Bank of India and the customs department. Owing to the widespread of authorities to take decisions on gold, the gold policies’ implementations were not very well coordinated.
The new gold body would help bring about a systematic smooth coordination between the decision makers and others involved in the policies to make the implementation more effective.
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