SubscribeAll Posts Tagged With: "rupee"
India’s Gold Demand: A Panic for Gold?
It’s hard to over-egg the importance of Indian jewelry demand in the physical gold market.
Between 2000 and 2007, gold jewelry sold in India accounted for one ounce-in-nine sold worldwide. One ounce in every five wound up as an Indian import (its domestic mines produce less than six tons per year), ready to be hung off young brides as 24-carat dowries or worked into bracelets and necklaces for the international market.
The single-largest gold bullion consumer, India’s own final demand outweighed the next largest market — China — by almost 57%.
But Chinese gold buyers have now caught up in 2008. Or so…
4Aug2008 | Whiskey and Gunpowder | Comments Off | ContinuedInvesting in India: Tata takes charge
Tata Motors (TTM: NYSE) debuted its entry for the cheapest car in the world this week. The Nano, a two-seater that runs for an enviable 54 miles per gallon of gas, will cost Indian customers only INR 1 lakh (100,000 rupees or $2,556).
The car is stripped down to say the least. It doesn’t have airbags or air conditioning, and you can just imagine sitting in Mumbai traffic in the middle of summer without air conditioning. The car doesn’t have a radio or a passenger-side mirror. But it will get drivers where they want to go, even if they arrive sweat-drenched…
14Jan2008 | Stephanie Grimmett | 1 comment | Continued
Loading ...
