India to have gold sourcing standards for refiners

Regulatory model would be in line with the London Bullion Market Association, with govt oversight

India is planning its own standards for gold refiners. Known as Indian responsible mineral sourcing guidelines, these are being worked out on the lines of rules set out by the Organisation for Economic Co-operation and Development (OECD). 

In the first phase, norms for dore, or unrefined gold, will specify that it is not imported from mines that use child labour or if money is used for terrorist funding or illegal or anti-national activities.

The first meeting of the working committee for the guidelines decided the regulatory model would be in line with the London Bullion Market Association, with government oversight.