India’s gold market is positioning itself for a larger presence on the global stage, backed by a major expansion in domestic refining capacity.
According to the report, India has built infrastructure capable of refining around 1,200 tonnes of gold annually. However, the country’s yearly gold consumption is estimated at only about 800 to 850 tonnes.
With a sizeable surplus emerging, the Union government is preparing a plan to export the excess gold directly to other countries. As part of this move, new global trade guidelines have been issued through Gujarat’s GIFT City.
The initiative is expected to create a pathway for Indian refiners to participate more actively in international gold trading and develop into a global gold trade hub.
