The government should also introduce zero duty for gold imports so as the world trade shifts to India.
In India, the gold prices might come down to Rs 18,500-19,000 per 10 grams level from the current Rs 20,500 per 10 grams level.
A sharp decline in sales and prospects of a grim future have resulted in a fall in jewellery stocks.
By tying gold imports directly to export volumes, India is effectively trying to cap how much bullion can be brought into the country, tightening supplies and driving up local prices.
Here's why consumers are shifting to large brands.
Dr Ravi Prakash's 250 vintage car collection includes J R D Tata's 1940 Buick Limousine and a Sunbeam-Talbot used by Lord Mountbatten.
