India's demand for gold reached a record high of 757 tonnes in 2022, valued at $44 billion, making it the largest consumer and importer of gold in the world.
According to the World Gold Council, India has become a strong pillar of support for the global gold market. In 2022, the country's demand for gold reached a record high of 757 tonnes, valued at $44 billion, an increase of 6% compared to the previous year. India is also the largest consumer and importer of gold in the world, accounting for nearly a quarter of global demand.
The council attributes the growth in demand to various factors such as a rise in income levels, changes in consumer behaviour, and favourable government policies. Additionally, gold has also been seen as a safe haven asset, providing stability in uncertain times.
The Indian gold market continues to grow, further solidifying its position as a key player in the global gold industry.
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