The Indian government is ideating the concept of opening a gold exchange meant to be as a transparent platform for jewellers to trade in gold on a local scale, reports say. This would enable the jewelers to reduce dependency on the international market and imports. The thought was put forth by Shaktikanta Das Secretary Department of Economic Affairs Ministry of Finance at the India International Bullion Summit organised by Indian Bullion & Jewellery Association, reports say.

The exchange so ideated would enable those holding surplus gold to meet and connect with those in requirement, and those seeking gold would be able to source it locally rather than depending upon imports. During the event, Das mentioned that the country’s overall economic growth is expected to be within 7.5 per cent in 2015-16, as per reports.