The world’s most valuable metal, platinum, is controlled by governments and corporations.
Yet, a few years ago, some in the metals industry said it was a “problem” that the Government of India should do more to control metals and the metals markets.
Today, many experts say it is the responsibility of government agencies to control the metal and the markets that make it valuable.
The new Government of the day in power, Narendra Modi, has taken the helm of the new ministry of metals.
In recent months, the government has set up a ministry of energy to deal with metals, and the department of commerce and industry is also looking at metals, says Rakesh Sharma, a senior fellow at the Economic Survey Foundation in New Delhi.
He says the Government is “looking for the gold rush” and needs to “develop a more robust and coherent regulatory structure for metals”.
The new government, he says, has to ensure that there is “robust regulatory structure, robust control and regulation” to ensure the “economic security” of India.
It is not just the Government that has to look after the markets.
The International Monetary Fund (IMF) and the World Bank have a similar role to that of the Government.
They are also in charge of regulating the global market for metals.
“They are the central bankers of the world,” Sharma says.
So, the question is: Are we looking at the IMF as a regulator or the WTO as a consumer?” “
The IMF and the WTO are the global regulators.
So, the question is: Are we looking at the IMF as a regulator or the WTO as a consumer?”
Modi has taken a different approach to control and regulate the metals market.
He has put the power back in the hands of the states and made it clear that it is up to them to manage the markets and regulate prices.
As a consequence, many of the most valuable metals that are used in manufacturing and the transportation sector are not traded, Sharma says, because they are not “commercially viable”.
“They would have to go into government-controlled industries or into the private sector,” he says.
Sharma says India has “an opportunity to be a leader” in controlling the metals sector.
He thinks that Modi’s recent actions, which include setting up the ministry of industries and the new department of metals “will make it possible for the government to create more efficient regulatory structures.”
The metal market has seen rapid growth, and India has overtaken China as the world’s leading producer of platinum.
The metal has more than doubled in value in the past five years.
In 2013, India became the first country to export platinum.
Since then, the country has doubled the number of platinum mines, and there are plans to expand the number by more than a third.
“We are hoping that by 2020, by 2020 we will be exporting platinum,” Sharma said.
According to the World Platinum Council, about 80% of the platinum traded in the world is exported.
In the metals business, the key to success is finding a good balance between production and demand, says Rajesh Kumar, a partner at Deloitte India.
“You have to make certain that you are not putting too much demand on a metal that is already expensive,” he said.
In fact, most metals have a high price, so “the best strategy is to not over-expose a commodity.”
India has been trying to find that balance for years, he adds.
India is also keen on reducing its reliance on foreign markets for its domestic production.
In the last two years, it has made several investments to help domestic producers, including setting up a platinum refinery in India’s western state of Gujarat and the construction of an export terminal at Lohiya.
“So, we are looking at ways to increase our domestic production, especially in the energy and mining industries,” Kumar said.
India has been investing heavily in domestic energy, and Sharma expects the country will become “the second-biggest energy exporter in the region by 2020”.
“If we do not do it, we will lose our competitive edge,” Sharma added.
India’s focus on domestic manufacturing is an important factor in its ability to become a world leader in the market, says Nandan Bhaskar, president of the Indian Association of Machinery Manufacturers.
“There is a need to focus on the domestic manufacturing and that has a lot to do with our ability to grow and be competitive in the global markets,” he adds, adding that India has a “lot of opportunities to become the third-largest maker of advanced machines and machines for the industrial sector”.
According the World Economic Forum (WEF), India is “one of the fastest-growing economies in the Asia-Pacific region” and is also one of the top five economies in Asia.
Modis move to control, regulate and regulate India’s markets is part of a “pragmatic