The Phaserl


India’s would-be PM ‘beacon of hope for the gold industry’

India’s new Prime Ministerial candidate Narendra Modi could well be the knight in shining armor for the country’s gold, silver and diamond retailers.

by Shivom Seth,

An unlikely saviour appears to have arrived on the horizon for the country’s beleaguered gold industry, battered by import duty restrictions.

India goes to the polls in 2014. With the main opposition party, the Bharatiya Janata Party (BJP) announcing Gujarat chief minister Narendra Modi’s name as the party’s prime ministerial candidate, jewellers from across the country, diamond retailers and bullion traders are all lining up to pledge their support Modi.

Though India has recorded three decades of reasonable growth under the Congress led government, the question doing the rounds is whether the model has run out of steam.

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