India is reaping the rewards of gold and silver imports
The global recession of the late 2000s has been tough on many countries, including India. Fortunately, Indian residents have recently received a substantial economic boost from their gold and silver imports.
According to Reuters, India's gold and silver imports rose 138 percent between April 2012 and April 2013. Meanwhile, world gold and silver prices recently fell, which may significantly impact India's economy in the near future.
"The surge in gold imports in April could have been due to frontloading of demand given the fall in gold prices, but this demand will come off in the next few months," India economist Siddhartha Sanyal told the news source.
Demand for India's gold is increasing around the world
Gold is a hot commodity worldwide, and Indian residents and those who work in the U.S. and send money to family members back home could be affected by its fluctuating value.
In April 2013, India's imports increased 10.9 percent on a year-over-year basis, thanks in part to the high demand for gold. While the price of gold fell in April, it has steadily increased since that time, a trend that may continue as the Indian economy continues to improve.
Additionally, the demand for gold could create new opportunities for Indian retailers. If more consumers request gold products, more jobs could become available, which may help create new employment opportunities across India.
Indian online retailers are selling gold and silver
The Indian Express points out that Bullion India recently launched an online platform to sell gold and silver to consumers. This merchant intends to supply large quantities of gold and silver at low prices and is even offering various delivery options to customers around the globe.
"Bullion India is the best platform through which retail customers can own gold and silver bars in small denominations at the lowest prices," Bullion India executive director Ketan Kothari told the news source.
With Bullion India, customers can enjoy gold bars that comply with international standards and are safely stored at all times. A professional security agency ensures that gold and silver is protected, and Bullion India also offers full insurance to clients.
As the global economy improves, more consumers could show interest in India's gold and silver sector. By offering these products to customers, Indian residents may receive significant profits that could help the nation for extended periods of time.