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Gold has been one of the most enduring
obsessions, mankind. The gold as a standard has been used for
currencies throughout history. It has been used as a symbol of
purity, value, nobility and royalty.
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Amongst all ancient civilizations, Indian
civilization had more fascination for gold and valued its
worth more than others. The fascination has continued even
till now in the 21st century making India the highest consumer
of gold in the world. At an annual demand of over 800 Tonnes
which amounts to 25% of the global demand the consumption
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gold in India is higher than
any other country.
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Translating the above into value, it is a
good 400 billion plus rupees worth of business.
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It is an undisputed fact that India's
insatiable appetite for the yellow metal keeps the global
precious metal industry in Good Health. And yet, how many
refineries are there in the precious metal refining business?
HARDLY ANY! This is a glaring gap in India's quest for
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self-reliance. Moreover, in precious
metal a major chunk of the value addition comes from raw
gold ore to gold yellow metal refining. This makes it a
triple whammy: import huge quantities of refined gold to
meet huge local demand; pay for the huge value addition
in refining; pay it in hard currency & allow
drainage of precious foreign exchange. |
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Welcome to
Indigold Refineries Ltd.