Research Journal of Economics & Business Studies - RJEBS - The ...

More documents

Recommendations

Info

Environmental, and Natural Resource Policy, University of Natural Resources and Applied Life Sciences, Vienna (BOKU) 6. Christina James-Overheu and Julie Cotter (2010), Corporate Governance, Sustainability and the Assessment of Default Risk, Asian Journal of Finance & Accounting ISSN 1946-052X 200X, Vol. 1, No. 1: E1 pp 34-53. 7. http://www.investopedia.com/terms/c/corporategovernance.asp accessed on 16.05.2013 8. http://www1.ifc.org/wps/wcm accessed on 16.05.2013 9. http://www.indiacsr.in accessed on 15.05.2013 www.theinternationaljournal.org > RJEBS: Volume: 02, Number: 09, July-2013 Page 98
A study on Trend analysis of Import of Gold by India Dr. Kalpana agrawal, Asst. Professor, Prestige Institute of Management & Research, Indore Ankit Budhrani, Student, Prestige Institute of Management & Research. ABSTRACT India is the largest consumer of gold in the world and largest importer after crude oil.Gold is a major vehicle of saving for large number of low and middle income households in rural and urban areas. India is the most rare country in the world, who do trade of export as well as import of gold at a high level. There has been an almost sustained rise in the international gold prices since 2002, with just one deep correction in 2008 and 2013. As gold is an integral part of savings of a large number of investors, this has raised apprehensions whether any correction in gold prices will have destabilizing implications on the financial markets. As the domestic production of these precious metals is negligible compared to their rising consumption, India has been importing hundreds of tons of gold every year. India is stepping up import of Gold this fiscal due to rising demand for the noble metal. Huge gold imports have put pressure on current account deficit (CAD)which in turn affecting the value of rupee. And in such a situation even Finance Minister recently made request to Indians that they should resist the temptation to buy gold for a year at least as rupee has become very weak against dollar. In this backdrop, the paper makes an attempt to analyze the trend of import of gold by India from various countries like U.K.,U.S.A, China, U.A.E, Afghanistan. The present research is secondary data based and five years data were taken to comprehend the trend of import of gold from various countries. INTRODUCTION In India, gold is as much a thing to be possessed as it is a concept. The word ‘gold’ in the ancient texts has wide meaning and connotations, ranging from the mundane to the sublime. In the Sanskrit language there are at least seven synonyms for gold, viz.Swarna, Suvarna, Hiranya, Kanak, Kanchan, Hem and Ashtapada. Gold in India serves many functions and wearing it has several implications.India has been the largest consumer of gold jewellery in recent times, and during 2008, the consumption was estimated to be 501 tonnes accounting for 23% of world demand (Exhibit 8). The main reason for demand for gold has been the traditions and cultures in India, which gives a lot of importance to gold as a gift in marriages or other functions and also the need for gold, as an investment. For the purpose of purchase of gold ornaments, from reputed jewellers and/or gold coins, many financiers have introduced financing schemes. The customer can purchase ornaments or gold coins under these financing schemes and pay back in installments. International gold prices had risen almost unabatedly in the last few years, though there was one large correction in 2008 and then recently in 2013. From July 2011 the pace of increase in gold prices has, however, accelerated further and in the third quarter of 2011, gold prices rose much faster. The spurt in gold prices which occurred in 2011 took place in the background of worsening of financial and economic scenarios initially in the US, followed by the debt problems in the European Countries. As a result of these adverse global developments and “flight to quality”, gold is emerging as a “safe” asset for investment purposes. The impact of the rise in international gold prices till March 2013 was reflected in its domestic prices as well. Despite the sharp recent price rise, in India, demand for gold has sustained, not only as a component of safe savings but also due to its social and cultural importance. Therefore, movements in gold prices in India are of keen interest to all segments of the society including investors. From the policy perspective, gold’s price rise has raised a concern as to whether a future crash in gold prices would have financial stability implications? “The story of gold www.theinternationaljournal.org > RJEBS: Volume: 02, Number: 09, July-2013 Page 99
Page 2 and 3:
Table of Contents Articles THE GLOB
Page 4 and 5:
The capital market of a country can
Page 6 and 7:
Figure 1: Components of Indian Fina
Page 8 and 9:
esults as regards the stability of
Page 10 and 11:
10. Hasan, M., K., Haque, M., & Law
Page 12 and 13:
In the first stage of development,
Page 14 and 15:
References: 1. Krishnamacharyulu CS
Page 16 and 17:
and the additional procedures neede
Page 18 and 19:
TO FIND THE RELATIONSHIP BETWEEN ST
Page 20 and 21:
Table No.8: Association between Inv
Page 22 and 23:
The foremost factor to be considere
Page 24 and 25:
economic and social. Some people ma
Page 26 and 27:
eliance, and transparency (Gain Raj
Page 28 and 29:
loans/borrowings has been invested
Page 30 and 31:
Pressure Nowadays, management is in
Page 32 and 33:
includes the red flags that were ex
Page 34 and 35:
sec110.01). However, it did establi
Page 36 and 37:
The Impact of Macroeconomic Factors
Page 38 and 39:
Bajaj 2.53 0.003 4.38 0.24 1.68 -0.
Page 40 and 41:
Nestle 2012 ITC 2012 Q1 -0.28 -0.28
Page 42 and 43:
Suzuki 2011 .22 1.82 1.91 1.87 1.99
Page 44 and 45:
performance performance From the ab
Page 46 and 47:
7 FINDINGS Risk Return Analysis In
Page 48 and 49:
1. Review of Literature Table 1: Su
Page 50 and 51: Building on the Markowitz framework
Page 52 and 53: NFL -4064 -8453 -2516 -3477 -1995 -
Page 54 and 55: Ochsner Robert C (1995), “Welcome
Page 56 and 57: quality measures the outcome of ser
Page 58 and 59: Out of 207 respondents, 108 respond
Page 60 and 61: check-in counters was provided. Ade
Page 62 and 63: esources to the best utilisation in
Page 64 and 65: ABSTRACT The State-Enterprise Exper
Page 66 and 67: Source: IE Singapore 2011/2012 Sing
Page 68 and 69: on a major property development pro
Page 70 and 71: given that the market at the time o
Page 72 and 73: Dunning, J. H., & Lundan, S. 2008.
Page 74 and 75: Table 1.Gross NPA of Nationalised B
Page 76 and 77: References 1.Internet Banking in In
Page 78 and 79: In addition, innovation implies inv
Page 80 and 81: esearch evidence by Mosey, Clare an
Page 82 and 83: 26. Nonaka, I., & Takeuchi, H. (199
Page 84 and 85: Similarly each organization is face
Page 86 and 87: working capital management impacts
Page 88 and 89: TABLE.2. SCHEDULE OF CHANGES IN WOR
Page 90 and 91: INTERPRETATION: The current ratio s
Page 92 and 93: INTERPRETATION: The working capital
Page 94 and 95: (Net worth =paid capital +reserve &
Page 96 and 97: Corporate Governance and Sustainabi
Page 98 and 99: quality. Derivation of this index w
Page 102 and 103: has a deeper message, one that has
Page 104 and 105: www.theinternationaljournal.org > R
Page 106 and 107: 2010).The process of financialisati
Page 108 and 109: .) The Tools Tools for data collect
Page 110 and 111: 14000000 12000000 10000000 8000000
Page 112 and 113: 40000000 30000000 20000000 10000000
Page 114 and 115: gifts at the time of marriage. Rece
show all

Research Journal of Economics & Business Studies - RJEBS - The ...

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?