Nationwide Uniformity in Gold Pricing: GJC's Bold Initiative

The All India Gem and Jewellery Domestic Council aims to standardize gold prices across India through its 'One Nation One Gold Rate' initiative. Already, 8,000 jewellers are on board, with efforts focused on involving more stakeholders. The initiative could streamline the industry significantly within six months.

The All India Gem and Jewellery Domestic Council (GJC) has announced a landmark initiative, 'One Nation One Gold Rate', aimed at unifying gold prices across the country.

Despite gold being imported at a uniform rate, retail prices differ significantly across regions. According to GJC Secretary Mitesh Dhorda, the Council is working to ensure a standard rate prevails, having already secured support from 8,000 jewellers with ongoing dialogues with industry members.

The effort is intended to streamline the gold market and is expected to be implemented within six months. The recently launched 'Lucky Lakshmi' festival also promises significant customer rewards to encourage participation.

(With inputs from agencies.)