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General Category => Off topic => Topic started by: Moonraker on September 14, 2013, 06:40:06 pm

Title: Is the Indian economy collapsing ?
Post by: Moonraker on September 14, 2013, 06:40:06 pm

Is the Indian economy collapsing ? (http://www.slideshare.net/slideshow/embed_code/26166520)

The silly gold buying is part of the problem with the current account deficit, which btw. is less than our cad.

Title: Re: Is the Indian economy collapsing ?
Post by: Moneypenny on September 16, 2013, 11:35:06 am

A $90 Billion trade deficit is no small matter. ???  If India has 3rd largest current account deficit worldwide, who is 2nd and 1st?

Never knew 52% of gold worldwide is utilised for making jewellery, only 18% kept in central banks and 18% ETFs', and 12% for industrial.

I know gold jewellery has huge cultural significance in India, don't understand why though. Shouldn't third world countries at least try to promote infrastructure and and industry rather than adornments?  Not judging (much), just wondering why.

Title: Re: Is the Indian economy collapsing ?
Post by: Patrick on September 16, 2013, 12:05:21 pm

I thought all gold buying was silly gold buying. Maybe that's why I'm still single  :D

Title: Re: Is the Indian economy collapsing ?
Post by: gcr on September 16, 2013, 12:52:36 pm

Can't get my head around this gold adornment thing but was suitably impressed when looking at the depictions of karma sutra and couldn't help but notice all the gold jewelry adornments - so it seems that you can't have the one without the other. Does somehow make a mockery of the adage all that glitters is not gold :laugh: