However, there is no pull back from the consumers in India, said World Gold Council Director K Shivram.
He was speaking at the induction programme of BBA (Jewellery Design and Management) course offered at Manipal Institute of Jewellery Management. He said gold helped Indian economy during recession.
The surging demand for gold jewellery due to increase in disposable income in the hands of consumers and expanding rural market augurs good fortune for the gold business in India, he added.He said, gold offers a 22 to 35 per cent year on year growth. It outstrips in terms of investment and returns.
The gem and jewellery is a growing industry and increasing value of gold in the market is the indication of the kind of growth the industry will achieve in days to come, he added.As many as 40 students were inducted on the occasion.
(Published 30 July 2011, 16:50 IST)
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