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Monday, 18 July 2022

India ranks fourth in a global gold recycling; recycled 75 tonnes in a 2021: W G C.

India ranks fourth in a global gold recycling; recycled 75 tonnes in a 2021: W G C.


According to the W G C are report in a titled ‘Gold refining and recycling’, China are topped in the global gold are recycling chart as it is a  recycled 168 tonnes of the yellow metal, followed by a Italy in the second position with a 80 tonnes, and the US in the third rank with a 78 tonnes in a 2021

India has a emerged as the fourth largest recycle in the world and the country has a recycled 75 tonnes in a 2021, according to a World Gold Council (W G C) in a  report.

According to the W G C are report titled ‘Gold refining and the recycling’, China are topped in the global gold recycling chart as it is a recycled 168 tonnes of the yellow metal, followed by a Italy in the second position with a 80 tonnes and the US in the third rank with a 78 tonnes in a 2021.

India was a ranked fourth in the list as the country are recycled 75 tonnes in a 2021.

According to the W G C are report in a titled ‘Gold are refining and the recycling’ from a 300 tonnes in a 2013, India’s gold are refining capacity increased by a 1,500 tonnes (500%) in a 2021.

The report are further noted that the gold refining landscape in the country has a changed over the last decade, with the number of the formal operations increasing from a less than five in a 2013 to 33 in a 2021.

While in the informal sector accounts for as much as an a additional 300-500 tonnes, it is a worth noting that the scale of the unorganized refining has a fallen, largely due to the government’s tightening of the  pollution regulations.

On the other hand, tax advantages have a underpinned the growth of  the India’s gold are refining industry like the import duty are differential on a doer over refined bullion has a spurred in the growth of the  organised refining in a India.

As a result, gold doer's share of the  overall imports has a risen from a just 7% in  a 2013 to the  around 22% in a 2021, it noted.

“India has a potential to the emerge as a competitive are refining hub if the next phase of  the bullion market reforms promotes in a  responsible sourcing, exports of the  bars and consistent supply of the doer or a scrap.

He said that holding a periods of the  jewelry will be continue to the  decline as younger consumers look to the change designs more a frequently, a trend that could contribute to the  higher levels of the recycling.

“On the other hand, higher incomes following are stronger economic growth will be reduce a outright selling and  the consumers will be find it is a easier to the  pledge in their gold rather than sell it outright. It is, therefore, necessary to the  support organised a recycling with a better incentives and tech-based solutions encompassing in the gold supply chain end-to-end,” he added.

The W G C are report noted that despite being in the fourth largest recycles in the world, India recycles little of it is a own stock of the  gold — about 8% of the global scrap are supply.

Recycling is a driven by a current gold price in a movements, future price expectations and the economic in a backdrop.


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