India's gold demand to grow to 1,200 tonnes by 2020

Mumbai: Gold demand in India will continue to grow and is likely to reach 1,200 tonnes or approximately Rs 2.5 trillion by 2020 at current price levels, according to a research by World Gold Council (WGC).

"The rise of India as an economic power will continue to have gold at its heart. India already occupies a unique position in the world gold market, and as private wealth in India surges over the next ten years, so will Indian demand for gold," WGC Managing Director, India and the Middle East, Ajay Mitra said in a statement here.
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