Kerala : Gold's own country..!Kerala – Gold's own country!
In Europe and other western countries there is a saying that If you want to see the Gold's most beautiful form , go to the tiny state called Kerala in India and attend any marriage where you can see the brides covered with gold ornaments from neck to knee which resembles the temple elephants adorned with decorations.
India consumes 30% of global gold supply. Out of that 20% is Kerala's consumption. The huge demand is attributed to the ever increasing remittances form Gulf countries and the US. Another reason is that there are no other investment avenues in Kerala.
As the investment in the Gold is non-productive Govt is trying hard to reduce the demand. Increased the import tariff. Now we are seeing an explosion of smuggling which authorities are fighting.Finanace Minister Mr P Chidambaram is saying "If I have one wish which the people can fulfill, it is don't buy gold,
Convincing the public won't be easy. Gold is completely ingrained in the Malayalee society.