Gold import curbs with single focus of controlling CAD won't work: IGPC

The think tank proposes five-point plan to successfully bring down gold imports, urges clearance of bottlenecks to make GMS viable

The Government plans to curb the import of non-essential items including gold, to control the widening current account deficit. However, a view is emerging that such a single-focus measure will not work. India Gold Policy Centre, which has emerged as an independent body on policy issues related to the precious metal, has proposed an action plan to the government for putting in place a gold policy with five pillars that are aimed at boosting the domestic industry while also curbing non-essential gold imports.

Clearing a few bottlenecks in the Gold Monetisation Scheme (GMS) could easily bring down imports of the precious