Gold, Indian women’s weakness

gold 11 Indian women are known worldwide for their weakness of gold. A family may have crores of assets through houses, lands, shares and bank securities, but it is only the quantity of gold through ornaments in the lockers of the bureaus that counts. India imported gold worth Rs. 18 lakhs crores thanks to this weakness according to a survey by Kotak Equities. Though the earlier UPA government hiked gold import duty from 2 percent to 10 percent, the imports have not come down. A whopping 77 percent of 1000 tons of imported gold is diverted for making ornaments.

 

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