Bullion industry banks on OECD norms to avoid importing conflict gold

Conflict gold, mined for financing wars and illegal activities, comes largely from African countries

After the Bureau of Indian Standards (BIS) took steps to regulate the gold manufacturing business in India, by making it
mandatory for gold dore refiners to get BIS certificate, the bullion industry has begun inculcating the best business practices for sourcing of dore or unrefined gold.

Rahul Gupta, of the Bullion Federation of India (BFI), a body of India's largest traders, said over phone, "India should now take steps to follow OECD guidelines on sourcing of gold to ensure that conflict gold doesn't enter India." He was speaking from Paris, where he was representing some of India's largest bullion