Why Gold Mining is Becoming a Strategic Industry in India
Gold has been a symbol of wealth, prosperity, and cultural significance in India for centuries. It continues to be one of the most in-demand precious metals in the country today. India is the world’s second-largest consumer of gold, yet its domestic production is minimal. This increasing gap between demand and supply has highlighted the importance of developing a strong gold mining sector—making gold mining a strategic industry in India . We have been exploring the reasons why gold mining companies are gaining strategic relevance, how they’re driving economic growth, and the role of new-age mining initiatives in shaping India’s future. Rising Domestic Demand and Economic Pressure India’s annual gold demand averages between 700–900 tonnes, primarily driven by jewelry, investment, and religious purposes. However, the country's domestic gold production is only around 1–2 tonnes per year. The remaining requirement is met through imports, which significantly impacts the trade deficit a...