Indian Bullion Market Association (IBMA)

– The Pan India Platform of Bullion Trade and Industry

Issues Related To Bullion Trade & Industry

Anjani Sinha
President
Indian Bullion Market Association Ltd.
 IBMA: An Introduction

• IBMA : The Indian version of LBMA

• Develop a pan India Institution for helping
the bullion trade and industry
• To be a national forum for resolving all
matters relating to bullion trade and
industry
• To interact with the Government, RBI, etc.
regarding policy decisions affecting bullion
trade
Market Potential

• India :
– Largest importer
– Largest consumer
– Largest exporter of Jewellary
– Largest Household stock

• Size of Bullion trade more than Rs. 3000 billion

p.a.
• Size of Household stock Rs. 30000 billion
• Still India does not play a dominant role in price
discovery….Why?
Issues faced by Bullion
trade and industry

ISSUE NO. 1

INCREASE IN CUSTOM DUTY ON

GOLD AND SILVER
Issues faced by Bullion
trade and industry

ISSUE NO. 2

RELAXATION IN IMPORT AND

EXPORT OF GOLD AND SILVER BARS
Issues faced by Bullion
trade and industry

ISSUE NO. 3

REDUCTION IN IMPORT DUTY ON

RAW GOLD
Issues faced by Bullion
trade and industry

ISSUE NO. 4

BANK LOAN IN BULLI0N BUSINESS

Issues faced by Bullion
trade and industry

ISSUE NO. 5

CODE OF CODUCT, PROFESSIONAL

ETHICS AND GOOD BUSINESS
PRACTICES
Issues faced by Bullion
trade and industry

ISSUE NO. 6

TRANSPARENCY IN PRICING AND

INFORMATION
Issues faced by Bullion
trade and industry

ISSUE NO. 7

PREPARING OURSELVES BEFORE

IMPLMENTATION OF GST AND
DEVELOPMENT OF COMMON INDIAN
MARKET
Issues faced by Bullion
trade and industry

ISSUE NO. 8

SPOT TRADING IN CUSTOM BOND

VAULT RECEIPT
Thank you