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According to the report of the World Gold Council (WGC), India in the world 4th largest recycler emerged and 2021 in the country 75 Ton has been recycled. WGC’s ‘Gold Refining and Recycling’ According to the report titled, China Recycling 168 tonnes of yellow metal tops global gold recycling charts, followed by Italy second place with 80 tons and America In 2021 it is in third place with 78 tonnes. ,

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main points of the report ,

  • According to the WGC report titled ‘Gold Refining and Recycling’ from 300 tonnes in 2013, India’s gold refining capacity increased by 1,500 tonnes (500%) in 2021.
  • The report further noted that the gold refining landscape in the country has changed over the past decade, with the number of formal operations increasing from less than five in 2013 to 33 in 2021.
  • On the other hand, tax benefits have slowed the growth of India’s gold refining industry, such as the import duty differential on dore on refined bullion, has accelerated the growth of organized refining in India. As a result, the share of gold dore in total imports has increased from just 7 per cent in 2013 to around 22 per cent in 2021.

Important takeaways for all competitive exams:

  • World Gold Council Report Headquarters: London, United Kingdom;
  • Establishment of the World Gold Council Report: 1987;
  • World Gold Council Report CEO: David Tait;
  • President of the World Gold Council report: Kelvin Dushniski.
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