Mr. Sanghi further said, “The idle gold reserves can be made available at low interest for all infrastructure related projects like power, roads, irrigation etc rather than borrowing from international aid agencies. This will ensure a rate of return for gold investors as well as help develop the infrastructure. These can be called IGR Infrastructure Bonds (IGRIB)”.
Since, India produces about 5 tons of gold and silver, however, has plenty of refiners but most of them are tiny and none of them are LBMA accredited refiners. There is an urgent need for establishment of world-class refineries which should be allowed to supply to SEZs, which have the benefit of free two way trade.
The Associated Chamber of Commerce & Industry of India
marketing@alchempro.com
