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India's primary gold production is expected to amount to around kilograms in the financial year 2024. This is a notable decrease from the country's primary gold production in the financial year 2020, which amounted to  °ì¾±±ô´Ç²µ°ù²¹³¾²õ.Ìý

Indian jewelry market: a driver of gold consumption

Accounting for nearly **** of the global gold demand, India’s fascination with jewelry can be dated back to almost *** years ago, to the time of the Indus Valley Civilization. Indeed, the jewelry market in India contributes to about percent of the country's GDP. The availability of highly skilled labor at low costs makes the region a very favorable market. With the highest saving rates worldwide, at about ** percent, Indians put their faith in the value of gold, investing about *** percent of their savings into it.

Gold imports to India: meeting demand through trade

Despite India's sizeable demand for gold, the country is not among the world's leading gold mining countries. India meets much of its gold demand through imports. As of 2021, India's gold imports amounted to **** billion U.S. dollars, and it was the second-largest gold-importing nation based on value that year.