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India's private owned gold reached 15 thousand tons

India's gem and jewelry industry is the world's fastest-growing jewelry market, worth about 27 billion U.S. dollars. In addition, India is the world's largest polished diamond market, is gradually growing to be a great base for advanced jewelry design, retail giant Wal-Mart and JC Penney are purchasing jewelry from India.

Indian people have clever hands and good sense, the low-cost labor prompted India to produce a large number of low-cost fine jewelry and ornaments. Marketing value of India's domestic jewelry are about 16 billion U.S. dollars, including gold, diamonds, platinum and other precious gemstones.

According to the latest Demand for gold in India report World Gold Council released,there are about 15 thousand tons of gold being privately owned. 2009 Q3 demand for gold as high as 800 tons, or about 24.7 billion U.S. dollars.

India is the world's largest consuming country of gold jewelry and ornaments, accounting for about 20% of total global consumption of gold. Last year, India's central bank purchased 200 tons of gold with 6.7 billion U.S. dollars from the International Monetary Fund (IMF) .
India's gems and jewelry and ornaments exports break a record of about 2.56 billion U.S dollars in September 2009. Since the beginning in March 2009, the gem stone and jewelry ornaments industry has been flourishing, the country's jewelry exports is expected to reach in a higher level in the coming festive period. Cutting and polishing of diamonds, colored gemstones, increased by 17% and 31% seperately. Led by Dubai, United Arab Emirates are India's major exporters of jewelry, accounting for 31% of the country's total exports.


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