| An Exchange in India would help much to create a vibrant gold ecosystem matching India’s large share of global gold consumption. Although India is the world’s second largest gold consumer with an annual demand of nearly 1,000 tonnes, it lacks many key elements of an efficient gold ecosystem.
The gold market here is plagued by fragmentation, with prices varying significantly across channels and locations. The quality of gold also varies widely. Jewellery rather than gold bars, gold coins, or gold-linked financial products, still dominates retail demand. Large jewellers and traders mostly import refined gold from international markets, such as Dubai, causing loss of economic value and jobs in India...............................................Full Article: Source
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