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INDUSTRIAL GOLD USAGE
IMITATION GOLD JEWELLERY
Imitation gold jewellery is fabricated and sold in cities, towns and many villages throughout India.
It is made in copper, brass, silver or other materials and then gold-plated. Most items contain 1 g or less of fine gold.
While lower income families account for the bulk of fabrication nationwide, retailers in Mumbai observe that imitation
jewellery is now being used by young and older consumers across all social classes.
In Mumbai, the number of imitation jewellery outlets is reported to have grown over the past 5 years from less than 50 to
more than 200. Informal trade estimates suggest that the number of fabricators may exceed 20,000 (including unemployed
goldsmiths), as Mumbai’s output is also distributed nationally.
An imitation gold chain can be bought for as little as Rs 600 (US$ 12), a bangle for Rs 700 (US$ 14) and a necklace for
Rs 1,000 (US$ 20).
A retailer of high quality imitation gold jewellery in Mumbai.
Ayurvedic medicines containing gold are widely used for rejuvenation and the treatment of many illnesses.
AN INTRODUCTION TO THE INDIAN GOLD MARKET 145