Significant growth in India’s gold refining industry led by informal sector – report

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India’s gold refining industry has seen whopping growth in recent years with capacity increasing by an whopping 500% between 2013 and 2021, the World Gold Council (WGC) said in a report, adding that the informal sector perhaps accounted for as much as an additional 300-500t. According to the report, advantageous custom duty on gold doré […]

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Bihar to allow exploration of ‘country’s largest’ gold reserve in Jamui district

The Bihar government has decided to allow exploration of the “country’s largest” gold reserve in Jamui district.  As per a Geological Survey of India (GSI) survey, around 222.88 million tonnes of gold reserve, including 37.6 tonnes of mineral-rich ore, are present in Jamui district. “The state Mines and Geology Department is in consultation with agencies […]

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India’s economic growth slows in FY 21-22 fourth quarter; full year GDP growth at 8.7%

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Covid-related restrictions, global supply shortages and higher input costs due to uncertainties triggered by Russia’s invasion of Ukraines further slowed India’s economic growth in the fourth quarter of the 2021-22 fiscal (April-March) with full-year gross domestic product (GDP) growth hitting 8.7% after contracting by 6.6% in the previous financial year, government data showed. The GDP […]

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