Punjab, Haryana gold demand rises to Rs 21,000 cr
Punjab and Haryana put together account for over 7.00 of gold market in India and the two states account for Rs 21,000 crores worth gold demand.
As per the World Gold Council the two states account for Rs 14,000 crore gold demands in the unorganised sector and 35 per cent from organised sector or a total of about 70 tonnes. This is a new fact about the two states known as the food bowl of the country accounting for 60 per cent of foodgrain to national kitty and major provider to national food security.
Amresh Acharya, Director, Investment, World Gold Council who was here in Chandigarh along with Reliance Money officials for the launch of “Reliance my gold plan” told that the capital town of Chandigarh was overall third in per capita income after Delhi and Goa. With high savings this region had unparalleled demand for gold. He said that India is the largest consumer of gold in the world consuming about 900 tonnes of gold per annum.
To tap this demand, the Reliance Money Precious Metals, a Reliance Capital company, and World Gold Council, the market development organisation for the gold industry, today announced the launch of Reliance My Gold Plan. The Plan offers customers the unique opportunity to start accumulating physical gold using a daily average pricing methodology. A minimum subscription of Rs.1000 per month translates to accumulation of gold for as low as Rs. 50 per day. This first-of- its-kind gold accumulation plan was launched by Rishit
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