Commodities Buzz: Gold Recycling Industry In India Valued At Rs440 Billion Says WGC

21 Jun 2022 , 12:22 PM

According to a latest update from WGC, as Indias demand for gold outpaces its domestic mine supply, demand is fulfilled by imports as well as gold recycled locally. Recycling in India is a Rs440bn industry making up 11% of the average local annual supply. The number of refineries in India has increased over the past decade and this has boosted local job creation. Local refineries have also enjoyed enhanced profitability through imports of gold dor?, due to its advantageous duty differential. To position India as a competitive refining hub, policy measures have to create other advantages, including export of bars, consistent supply of dor? or scrap and a strong framework of standards and infrastructure. Powered by Commodity Insights