India was the largest consumer of gold before being overtaken by China in 2009. In 2021 India bought 611t of gold jewellery, second only to China (673t) but comfortably ahead of all other gold-consuming markets, a recent World Gold Council report revealed.
In a report -- Smuggling in India Report 2021 -- which was released by Finance Minister Nirmala Sitharaman on Monday, the government agency said it had always risen to the challenge and made great inroads into breaking the gold smuggling syndicates over the years.
According to the council, consumers and central banks bolstered demand for the yellow metal, although there was a notable contraction in investment demand.
New Delhi [India], September 29 (ANI): Online jewellery sales in India have seen rapid growth over the past few years, largely driven by demand from millennials amid growing internet penetration, World Gold Council said.
New Delhi [India], August 10 (ANI): Against the backdrop of monetary policy tightening by several central banks including the Reserve Bank of India, gold as an asset may offer investors a source of return on their investments and effective diversification of the portfolio, said World Gold Co
New Delhi [India], June 21 (ANI): India has emerged as the fourth largest country in global gold recycling, said World Gold Council in a report on Tuesday, adding that over the past five years 11 per cent of India's gold supply has been from "old gold."
New Delhi [India], May 2 (ANI): Amid inflation and high gold prices, India's demand for the yellow metal declined sharply in the January-March quarter by 18 per cent to 135.5 tonnes, according to World Gold Council (WGC).
New Delhi [India], Sep 13 (ANI): The World Gold Council said on Monday its members -- 33 of the world's most forward-thinking gold miners -- have committed to reporting their positions and progress on climate-related risks in line with the recommendations of Taskforce for Climate-related
Mumbai (Maharashtra) [India], July 31 (ANI): World Gold Council (WGC) and Gem and Jewellery Export Promotion Council (GJEPC) have signed an agreement to promote gold jewellery in India.
Mumbai (Maharashtra) [India], July 29 (ANI): Demand for gold in India during April to June (Q2 2021) totalled 76.1 tonnes, marking an increase of 19.2 per cent as compared to 63.8 tonnes in the same period of last year, the World Gold Council (WGC) said on Thursday.
Mumbai (Maharashtra) [India], April 29 (ANI): Demand for gold in India bounced back during the January to March period to clock a growth of 37 per cent at 140 tonnes compared to the same quarter of 2020, the World Gold Council (WGC) said on Thursday.