The All India Gem and Jewellery Domestic Council (GJC) has announced its ambitious plan to implement a 'One Nation One Gold Rate' policy, aiming to standardize domestic gold prices that currently fluctuate across various regions of the country. The initiative was revealed during the launch of 'Lucky Lakshmi,' a revamped annual gold festival set to run from October 22 to December 9.

GJC Secretary Mitesh Dhorda emphasized the need for a unified gold pricing strategy, stating, “We import gold at the same rate, but the domestic retail prices differ from one city to another. We want a single rate to prevail across the country.”

The council has already made significant progress, having conducted over 50 meetings with its members and successfully garnering support from approximately 8,000 jewellers nationwide. The GJC aims to convince retailers to adopt this standardized pricing model, which could help consumers and retailers alike by eliminating regional disparities and fostering a more transparent marketplace.

As the 'Lucky Lakshmi' festival approaches, the GJC hopes that the push for uniform gold rates will resonate with both consumers and retailers, making gold purchases more equitable across India. The initiative reflects the council's commitment to enhancing the industry's integrity and boosting consumer confidence in gold investments.