Surging gold costs in India are leading some individuals to exchange their gold jewellery for brand spanking new pieces, significantly through the marriage ceremony season. Higher prices are driving extra Indians to reuse their gold, and whereas consumers are purchasing for weddings, general demand is comparatively subdued. The domestic jewellery retail industry, in value phrases, is anticipated to develop at per cent in the course of the present financial 12 months Jewelery News on the again of elevated gold costs, credit rating firm ICRA said in a report. In the final financial 12 months, the industry had grown by greater than 15 per cent.ICRA said that demand volumes remained stable in the present festive season despite larger prices. Goyal stated large investments are being made to create a world-class infrastructure, together with the 20-acre India Jewellery Park in Navi Mumbai and a common facility centre in SEEPZ Mumbai with fashionable machinery and gear.
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