In India, all that glisters is gold. That is the 21st century message the one-billion strong India, witnessing a surge in consumer spending, is sending out to the world. If you have any doubt about Indian consumer's obsession with gold, just walk into any shopping mall, busy streets and market roads across Indian cities and towns. The shops which are swarmed by customers are certainly jewellery showrooms these days.
India may be the largest consumer of gold in the world; but not only that the quantity of gold that the country produces is dismal, but it plays no influencing role in determining the pricing of the yellow metal.
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