Gold traders unveil ‘Vision 2030’ to strengthen Keralam’s gold sales
To ensure the survival of small and medium-sized jewellery businesses, protecting workers and artisans, and preserving traditional gold trade will be among the key objectives of ‘Vision 2030’
The Kerala Gold and Silver Merchants Association (KGSMA) has unveiled a multi-faceted 'Vision 2030' strategy to bolster the gold trade sector in the state. The plan, which will be implemented over the next seven years, aims to bolster transparency, modernize trade practices, and safeguard the interests of small and medium-sized jewellery businesses.
KGSMA members stressed the importance of the gold trade as a source of savings and financial security for millions of families in Kerala. During a recent state committee meeting, association leaders identified record-high gold prices, high import duties, valuation issues with old gold, fake HUID numbers and hallmarking, GST complications, and the added expenses of digital transactions as key challenges facing the industry.
To address these issues, KGSMA proposed a reduction in import duties, incentives for recycling domestic old gold, and the introduction of a state-level Standard Operating Procedure (SOP) for purchasing old gold. The association also called for stringent action against fake HUID numbers and fraudulent hallmarking. KGSMA members emphasized that the gold trade's preservation is crucial not only for the survival of traders but also for protecting workers, ensuring tax revenue, and supporting the broader economy.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
