Home / Knowledge / News / Fashion / India is the largest consumer of gold in the world.
India is the largest consumer of gold in the world.
Mar '08
As per World Gold Council, India is the largest consumer of gold in the world. This information was given by Shri Sis Ram Ola, Minister of Mines in a written reply in the Lok Sabha.

The import of gold in the last few years has been in the range of 700-800 tonnes per annum. Year wise import of gold, as informed by Director General of Foreign Trade, during last 3 years is as follows:
1) 2004-05 - 782.86 tonnes
2) 2005-06 - 723.79 tonnes
3) 2006-07 - 715.80 tonnes

As per National Mineral Inventory prepared by Indian Bureau of Mines, the total resources of gold ore (primary) in the country are estimated at 390.29 million tones with a metal content of 490.81 tonnes.

Apart from regional exploration of gold undertaken by Geological Survey of India (GSI), detailed exploration for gold in 39 prospects has been done by Mineral Exploration Corporation Limited (MECL) since its inception in 1972.

Central Government has also been given prior approvals for grant of reconnaissance permits for regional exploration and prospecting licenses for detailed exploration of gold to various applicants, including private companies.

Press Information Bureau Government of India

Must ReadView All

Courtesy: Aditya Birla

Textiles | On 20th Jun 2018

'Growth of VSF yarn industry is difficult'

Growth for the viscose filament yarn (VSF) yarn industry is...

Comfort USP of Sensitive Fabrics range of Eurojersey Spa

Apparel/Garments | On 20th Jun 2018

Comfort USP of Sensitive Fabrics range of Eurojersey Spa

Italian company Eurojersey Spa will present in 2019 new embossing...

Courtesy: Coolvision

Textiles | On 20th Jun 2018

FiberVisions to show new range of CoolVisions fibre at OR

FiberVisions, an Indorama Ventures company, is set to present a new...

Interviews View All

Top executives
Fashion houses, India

With technology, it has become easier to ensure IPR

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Divvya and Nidhhi Gambhir

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Advanced Search