{"id":1241953,"date":"2023-01-25T13:17:24","date_gmt":"2023-01-25T07:47:24","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1241953"},"modified":"2023-01-25T13:18:02","modified_gmt":"2023-01-25T07:48:02","slug":"indian-bribes-buy-25-of-all-gold-sold-across-the-world-india-declared-worlds-2nd-biggest-gold-market","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/indian-bribes-buy-25-of-all-gold-sold-across-the-world-india-declared-worlds-2nd-biggest-gold-market\/","title":{"rendered":"Indian Bribes Buy 25% Of All Gold Sold Across The World! India Declared World’s 2nd Biggest Gold Market"},"content":{"rendered":"\n

The statement that Indians love gold has now officially turned into reality. According to a recent report, India is not only the most populous country in the world but also now a major hub of gold jewellery fanatics.<\/p>\n\n\n\n

\"Indian<\/figure>\n\n\n\n

The latest report of \u2018Jewellery Demand and Trade\u2019 released last week by the World Gold Council<\/a> reveals that India is the second largest gold jewellery consumer in the world, buying a whopping total of 611 tonnes of gold jewellery in 2021.<\/p>\n\n\n\n

The only country beating India\u2019s gold jewellery consumption is the world\u2019s second largest economy China, which purchased 673 tonnes of jewellery (gold) in the year.<\/p>\n\n\n\n

In consumption of gold jewellery in India, the bridal jewellery market dominates the said landscape, covering almost 55% of the market share in the country even though exports of gold jewellery jumped to USD 12.4 billion in 2019 from USD 7.6 billion in the year 2015.<\/p>\n\n\n\n

According to the \u2018Jewellery Demand and Trade\u2019 report, the authentic 22-carat gold accounts for 80-85% of the Indian jewellery share, while the 18-carat gold jewellery market is expanding too.<\/p>\n\n\n\n

It must be added here that the largest gold jewellery consumer in India comes from the rural region of the country, which constitutes 55-58% of the market share, while middle class India is the primary consumer of gold.<\/p>\n\n\n\n

Further, the highest gold jewellery consumption in the country is concentrated in southern India, which makes up for 40% of the total demand in India, while the jewellery in everyday wear accounts for 40-45% of the market share, stated the report.<\/p>\n\n\n\n

\u201cIndia is a strong pillar of support for the global gold markets as the second-largest consumer of gold jewellery. While weddings and festivals act as important drivers of jewellery demand, our rich cultural heritage and historic status as a major global force in world commerce underpins this strong socio-economic relationship with gold,\u201d said the regional CEO of India, World Gold Council, Somasundaram PR.<\/p>\n","protected":false},"excerpt":{"rendered":"

The statement that Indians love gold has now officially turned into reality. According to a recent report, India is not only the most populous country in the world but also now a major hub of gold jewellery fanatics. The latest report of \u2018Jewellery Demand and Trade\u2019 released last week by the World Gold Council reveals […]<\/p>\n","protected":false},"author":31,"featured_media":1241959,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[669],"class_list":["post-1241953","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-gold"],"acf":[],"yoast_head":"\nIndian Bribes Buy 25% Of All Gold Sold Across The World! 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