India accounts for around a fifth of annual global gold demand,
Arun Jaitley, India's Finance Minister, explicitly highlighted the government's desire to formulate a comprehensive policy to develop gold as an asset class, create gold exchanges, and revamp the Gold Monetisation Scheme.
Better gold policies combined with rising incomes could bode well for India's gold industry.
http://www.gold.org/research/market-update/market-update-indias-budget-policy-and-progress
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