National
Gold demand in India grew to 727 tonnes in 2017
Mumbai, Feb 6 (IANS) Gold in India gained more shine in calendar year 2017 with demand growing by 9.1 per cent to 726.9 tonnes, said the World Gold Council, a body of gold miners.
According to the Council’s latest gold demand trends report, the gold demand projection for 2018 in India is 700-800 tonnes.
In a statement issued here, the Indian chapter of World Gold Council said, the demand for gold grew in India to 726.9 tonnes last year up from 666.1 tonnes in 2016.
In the fourth quarter on 2017, demand was up two per cent to 249 tonnes, and within that jewellery demand reached the highest fourth quarter level in 17-year series.
“This increase in demand was driven by a number of events, including lower gold prices coinciding with Dhanteras, a positive economic backdrop and improved consumer sentiment, particularly in the rural areas, as the effect of demonetisation wore off,” Somasundaram PR, Managing Director, India World Gold Council was quoted as saying in the statement.
“The exemption of gold from PMLA (Prevention of Money Laundering Act) in the second half of 2017 also revived consumer purchases, helped by the transition to GST progressing along the expected lines,” he added.
Looking ahead, the 2018 Budget confirmed various positive initiatives for gold including the development of a comprehensive policy and the creation of a gold exchange.
As policy measures unfold, we are optimistic that demand for 2018 will stabilise at 700-800 tonnes, he added.
According to World Gold Council, the total jewellery demand in India for 2017 was up by 12 per cent at 562.7 tonnes as compared to 504.5 tonnes in 2016. The value of jewellery demand in 2017 was Rs 148,100 crore, up from Rs 136,290 crore in 2016.
Total investment demand for 2017 was down up two per cent at 164.2 tonnes in comparison to 161.6 tonnes in 2016. In value terms, gold investment demand was Rs 43,220 crore down form Rs 43,650 crore in 2016.
The total gold recycled in India in 2017 was 88.4 tonnes as compared to 79.5 tonnes in 2016, the statement said.
Globally the gold demand last year fell by seven per cent to 4,071 tonnes, compared to 2016, World Gold Council said.
–IANS
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National
Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok
Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.
The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.
Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.
Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.
For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.
During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.
Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.
Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .
Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.
In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.
During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.
In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.
He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.