Last Updated : 22 Jun, 2022 06:18 AM
Published : 22 Jun 2022 06:18 AM
Last Updated : 22 Jun 2022 06:18 AM
New DelhiLast year alone, India recycled 75 tonnes of gold, making it the fourth largest country in the world in terms of gold recycling, according to the World Gold Council.
The World Gold Council has released a report on ‘Gold Refining and Recycling’. China ranks first in gold recycling. China recycled 168 tonnes of gold last year. Italy (80 tons) is in second place, followed by the United States (78). India ranks fourth in recycling 75 tonnes of gold.
India’s gold refining volume in 2013 was 300 tonnes. By 2021 it has risen to 1500 tons. In 2013, the number of institutional gold refineries was less than 5. By 2021 it will have risen to 33.
According to the department, the recycling of gold has increased due to the younger generation giving away old gold jewelery in a short period of time and buying new models.