Indian Gold Book:Indian Gold Book - Gold Bars Worldwide

INDUSTRIAL GOLD USAGE
Since the repeal of the Gold (Control) Act, industrial gold usage is reported to have grown to more than
40 tonnes, due mainly to a surge in the fabrication of gold plating products and the widespread use of
gold for plating purposes.
There are 3 important categories:
• Gold plating
• Zari thread
• Ayurvedic medicines
Monitoring industrial gold usage in India, where the market is so fragmented, is no easy task. The statistics rely on the
indicative estimates of Madhusudan Daga.
GOLD PLATING
The gold plating of silver and other metals and materials is a “cottage industry” throughout India.
The category includes the use of gold for plating cutlery, dinner sets, tea sets, plates, bowls, tumblers, trays and other
utensils, as well as gold plated decorative ornaments, watch cases and straps, inkpots and pens, optical frames, mirrors and
glass. It also includes electroplated gold items and imitation gold jewellery.
The fabrication of imitation gold jewellery has grown significantly. Increased consumer demand is attributed to its low price
(relative to real gold), improved product quality, new fashionable designs and rising levels of crime in major cities.
ZARI THREAD
India is renowned for its decorative golden Zari thread.
It can be woven into materials for sarees, suits, sashes, blouses, ceremonial cloths and many other embroidered items. The
craft has been practised for thousands of years. Zari is a Hindu word for a metallic thread.
Most Zari thread and materials are made by hand in west and north India:
Gujarat Surat
Uttar Pradesh Bareilly, Varanasi, Agra
Rajasthan Jaipur, Barmer
Surat is the most important fabrication centre.
The most important export markets for Zari products are the USA (accounting for 20% of exports), UK (17%) and Japan
(10%).
AYURVEDIC MEDICINES
Although gold is incorporated in less than 1% of ayurvedic medicines consumed, around 5 tonnes of gold is
now reported to be swallowed in tablet or powder form each year by millions of Indians.
About 50% of gold consumption is for ‘rejuvenation’ purposes, especially during the winter months. There are more than
20 commonly used ‘rejuvenation’ brands. For example, Brihat Vatchintamani Ras, Vasant Kusumar Ras and Suvarna Malini
Vasant.
A typical daily dose would include 1 – 2 mg of gold within a mixture of herbs.
Gold is also widely used for the treatment of many illnesses, including rheumatoid arthritis, osteoarthritis, tuberculosis,
schizophrenia, epilepsy, colitis, heart disease, neurological disorders, malabsorption syndromes and complications
associated with diabetes.
Traditional ayurvedic medicines, known for more than 3,000 years, are recorded in 3 classical treatises: Charak, Sushrut and
Vaghbhatta. The term incorporates the Sanskrit words ‘ayu’ (life) and ‘veda’ (knowledge). The widespread use of gold dates
back to around 600 AD when a chemist, Nagarjuna, pioneered the medical use of metals and minerals.
AN INTRODUCTION TO THE INDIAN GOLD MARKET 143