New Delhi, Feb 9 : Gold industry has a great potential to create jobs and contribute towards economic growth, Mr K Rajaraman, Additional Secretary, Department of Economic Affairs said on Saturday.
''As gold industry has a great potential to create jobs and contribute towards economic growth, a sound policy framework that is systematic in structure is required.
A systematic gold policy framework will align the interest of different stake holders with the objectives of policy,'' he said during the inaugural session of the Conference on Gold and Gold Markets 2019, organised by the India Gold Policy Centre (IGPC) of the Indian Institute of Management - Ahmedabad (IIMA) here.
He emphasised on the need for more research on consumer behaviour related to gold, as well as on product design, spot exchange and how banks could include Gold in their options.
Also present on the dais were Mr P R Somasundaram, MD, World Gold Council India; Prof Arvind Sahay, Professor of Marketing and International Business and Chairperson of IGPC; and Mr Brian M Lucey, Professor of International Finance and Commodities, Trinity College Dublin.
Earlier, Prof Sahay welcomed the gathering, describing the event as ''a forum that IGPC would like to develop as the forum for research based insight on gold in India. That brings to gather academia and industry.''
This was the institute's second conference on policy-relevant research on gold-related topics and focused on a wide spectrum of topics that ranged from household motives to invest in the precious metal to macroeconomic policy choices.
It served as a platform for meaningful interaction among academia, policy makers and other key stakeholders in the gold ecosystem.(UNI)