A study on standards, regulations, and frictions in gold market of India

Abstract

The Gems and Jewellery industry is one of the fastest growing sectors in Indian economy and has been contributing 6-7% to the country’s GDP. In the recent past due to increasing Current Account Deficit (CAD) plaguing the Indian Economy, government has been put several regulations to curb the import of gold, therefore this industry has been affected severely. In contrary to that, Indians do have an emotional attachment with gold because of its traditional value and cultural stigma. Annual demand of gold always remains high despite constant hike in gold price. In our study we are willing to find out what are the real market challenges the current gold industry is facing. The study would also come up with certain measures, which can mitigate the prevalent crisis in the gold market