Modi Government Eyes Gold Sector Boost: 3 Big News for Buyers & Industry

• Experts anticipate gold prices to exceed Rs 2 lakh, prompting expectations for government intervention.
• Jewellery manufacturers seek GST reduction from 3% to 1.25-1.5% to lower prices and boost investment.
• Industry leaders advocate for stable import duties on gold and reduced duties on cut/polished diamonds to foster a global hub.
• Promotion of digital gold and reintroduction of Sovereign Gold Bonds (SGBs) are suggested to channel domestic gold into productive use.
• Simplification of tax regulations, property tax exemptions in SEZs, and expedited mining permits are crucial for export competitiveness and growth.

Why It Matters: The Modi government is expected to introduce policies to boost the gold sector, benefiting buyers and industry.