GST could dampen India gold demand in short-term: WGC
There have been fears the tax increase could stoke under-the-counter buying and drive up appetite for precious metal smuggled into India, where millions of people store chunks of their wealth in bullion and jewellery.
Salesman arranges gold ornaments on display board inside a jewellery showroom during Akshaya Tritiya, a major gold buying festival, in Kochi. Photo: Reuters