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Mahesh

23/06/22 21:05 PM IST

India ranks 4th in global gold recycling

In News 
  • India has emerged as the fourth largest recycler in the world and the country has recycled 75 tonnes in 2021, according to a World Gold Council (WGC) report.
Major Findings 
  • Top: China (168 tonnes)
  • India’s gold refining capacity increased by 1,500 tonnes (500%) in 2021
  • Number of formal recycling businesses has increased from less than five in 2013 to 33 in 2021.
  • The scale of unorganised refining has fallen, largely due to the government’s tightening of pollution regulations.
  • India has the potential to emerge as a competitive refining hub if the next phase of bullion market reforms promote responsible sourcing, exports of bars and consistent supply of dore or scrap.
  • Despite being the fourth largest recycler in the world, India recycles little of its own stock of gold — about 8% of the global scrap supply.
Source- Indian Express 

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