Indian Gold Book:Indian Gold Book - Gold Bars Worldwide
Indian Gold Book:Indian Gold Book - Gold Bars Worldwide
Indian Gold Book:Indian Gold Book - Gold Bars Worldwide
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INDUSTRIAL GOLD USAGE<br />
Since the repeal of the <strong>Gold</strong> (Control) Act, industrial gold usage is reported to have grown to more than<br />
40 tonnes, due mainly to a surge in the fabrication of gold plating products and the widespread use of<br />
gold for plating purposes.<br />
There are 3 important categories:<br />
• <strong>Gold</strong> plating<br />
• Zari thread<br />
• Ayurvedic medicines<br />
Monitoring industrial gold usage in India, where the market is so fragmented, is no easy task. The statistics rely on the<br />
indicative estimates of Madhusudan Daga.<br />
GOLD PLATING<br />
The gold plating of silver and other metals and materials is a “cottage industry” throughout India.<br />
The category includes the use of gold for plating cutlery, dinner sets, tea sets, plates, bowls, tumblers, trays and other<br />
utensils, as well as gold plated decorative ornaments, watch cases and straps, inkpots and pens, optical frames, mirrors and<br />
glass. It also includes electroplated gold items and imitation gold jewellery.<br />
The fabrication of imitation gold jewellery has grown significantly. Increased consumer demand is attributed to its low price<br />
(relative to real gold), improved product quality, new fashionable designs and rising levels of crime in major cities.<br />
ZARI THREAD<br />
India is renowned for its decorative golden Zari thread.<br />
It can be woven into materials for sarees, suits, sashes, blouses, ceremonial cloths and many other embroidered items. The<br />
craft has been practised for thousands of years. Zari is a Hindu word for a metallic thread.<br />
Most Zari thread and materials are made by hand in west and north India:<br />
Gujarat Surat<br />
Uttar Pradesh Bareilly, Varanasi, Agra<br />
Rajasthan Jaipur, Barmer<br />
Surat is the most important fabrication centre.<br />
The most important export markets for Zari products are the USA (accounting for 20% of exports), UK (17%) and Japan<br />
(10%).<br />
AYURVEDIC MEDICINES<br />
Although gold is incorporated in less than 1% of ayurvedic medicines consumed, around 5 tonnes of gold is<br />
now reported to be swallowed in tablet or powder form each year by millions of <strong>Indian</strong>s.<br />
About 50% of gold consumption is for ‘rejuvenation’ purposes, especially during the winter months. There are more than<br />
20 commonly used ‘rejuvenation’ brands. For example, Brihat Vatchintamani Ras, Vasant Kusumar Ras and Suvarna Malini<br />
Vasant.<br />
A typical daily dose would include 1 – 2 mg of gold within a mixture of herbs.<br />
<strong>Gold</strong> is also widely used for the treatment of many illnesses, including rheumatoid arthritis, osteoarthritis, tuberculosis,<br />
schizophrenia, epilepsy, colitis, heart disease, neurological disorders, malabsorption syndromes and complications<br />
associated with diabetes.<br />
Traditional ayurvedic medicines, known for more than 3,000 years, are recorded in 3 classical treatises: Charak, Sushrut and<br />
Vaghbhatta. The term incorporates the Sanskrit words ‘ayu’ (life) and ‘veda’ (knowledge). The widespread use of gold dates<br />
back to around 600 AD when a chemist, Nagarjuna, pioneered the medical use of metals and minerals.<br />
AN INTRODUCTION TO THE INDIAN GOLD MARKET 143