ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Consumption of Gold in India

The gold stock of the country at the end 1997 was close to 10,000 tonnes valued at current prices on the world market at $ 120 billion. This is nearly four times the country's exports and official foreign reserves in that year. The continued rapid growth of gold inflow into the country can have significant consequences in terms of the scale and functioning of the hawala market, the availability of foreign exchange for other uses and the health of the balance of payments. The factors determining the demand for gold and the sources of finance for importing it therefore merit closer study.

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