WGC to boost gold consumption in India
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.
UNI