WGC to boost gold consumption in India

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Agartala, Dec 13: The World Gold Council (WGC) has launched a programme to boost the sale of gold in Northeast.Talking to media here today, WGC Associate Director Keyur Shah said the gold consumption in India, excepting metros, was gradually reducing even as the country's average gold consumption is highest in the world.

Mr Shah was here on a two-day visit in connection with NE's first commercial gold coin release ceremony on Tripura, a venture of WGC and state's leading jewellery house Shyamsundar Co. ''We want to promote gold consumption in the region as well as promote Tripura in outside through the standardised coin,'' Mr Keyur said.

The infiltration of imitation jewelleries have posed a serious threat to the gold consumption in the country, Mr Shah asserted adding that gold is a wise investment as it had high resale value.

India produces about 750 MT gold per annum from it lone Kolar gold fields in Karnataka but about a double amount of gold is still imported from other countries also.

Releasing the standardised coin with an embossed Tripura map on it, state Finance Minister Badal Choudhury said it opened a new option of savings for middle class families while Industry Minister Tapan Chakraborty and Rural Development Minister Jitendra Choudhury asserted that the coin would get foreign exchange.


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