In 2015 India was the world’s fast growing economy; in recent years millions have been lifted out of poverty and India’s middle class has swelled. This is important because our econometric analysis indicates income growth drives gold demand. But India’s relationship with gold goes beyond income growth: gold is intertwined with India’s way of life. And as we look ahead, India’s gold market will evolve.
Introduction
India is a wonderful country. It is diverse and dynamic. With over 500 million people under the age of 25 it is one of the youngest countries in the world. Yet, at the same time, India has a long and rich cultural heritage, with many gods, deities and beliefs intertwined with the Indian way of life.
Gold...
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