New Delhi, Dec. 3 -- The PHD Chamber of Commerce and Industry (PHDCCI) on Wednesday recommended a zero import duty on gold ore concentrate (HSN 26169010) and the introduction of a Production-Linked Incentive (PLI) scheme to boost the domestic gold processing sector.
PHDCCI has also proposed a PLI scheme linked to the amount of gold refined, which it believes will incentivise capacity expansion, technology upgrades, and long-term investment in the sector.
India's gold industry continues to be the second-largest globally in terms of consumption and is largely met by imports.
According to the World Gold Council 2024 report, India witnessed a 5 percent rise in demand, on a year-to-year basis, in 2024 compared to 2023, supported by a reductio...