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Which country is the largest source of gold imports for India, accounting for 40% of its total gold imports?
- a)Australia
- b)UAE
- c)Switzerland
- d)South Africa
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Which country is the largest source of gold imports for India, account...
Overview of Gold Imports in India
India is one of the largest consumers of gold globally, primarily for jewelry, investment, and cultural purposes. Understanding the sources of gold imports is essential for analyzing trade dynamics and economic factors.
Major Sources of Gold for India
- India imports gold from several countries, but the largest source is Switzerland, which accounts for approximately 40% of India's total gold imports.
- Other significant sources include the UAE, Australia, and South Africa, but none match the volume of gold imported from Switzerland.
Reasons for Switzerland's Dominance
- Refining Hub: Switzerland is home to some of the world's largest gold refineries. This allows the country to process and refine gold from various origins, making it more accessible for export.
- Quality Assurance: Gold from Switzerland is often regarded as high-quality, attracting buyers like India that prioritize purity and certification.
- Trade Agreements: Switzerland has established favorable trade agreements and logistics that facilitate smooth export processes, making it a reliable source for Indian importers.
Impact on the Indian Economy
- The heavy reliance on gold imports, especially from Switzerland, impacts India's trade balance and foreign exchange reserves.
- Monitoring these imports is crucial for policymakers as fluctuations can influence the Indian economy significantly.
In conclusion, Switzerland's strategic position in the global gold market, coupled with its refining capabilities and quality assurance, makes it the largest source of gold imports for India, accounting for a significant 40% of the total imports.
India is one of the largest consumers of gold globally, primarily for jewelry, investment, and cultural purposes. Understanding the sources of gold imports is essential for analyzing trade dynamics and economic factors.
Major Sources of Gold for India
- India imports gold from several countries, but the largest source is Switzerland, which accounts for approximately 40% of India's total gold imports.
- Other significant sources include the UAE, Australia, and South Africa, but none match the volume of gold imported from Switzerland.
Reasons for Switzerland's Dominance
- Refining Hub: Switzerland is home to some of the world's largest gold refineries. This allows the country to process and refine gold from various origins, making it more accessible for export.
- Quality Assurance: Gold from Switzerland is often regarded as high-quality, attracting buyers like India that prioritize purity and certification.
- Trade Agreements: Switzerland has established favorable trade agreements and logistics that facilitate smooth export processes, making it a reliable source for Indian importers.
Impact on the Indian Economy
- The heavy reliance on gold imports, especially from Switzerland, impacts India's trade balance and foreign exchange reserves.
- Monitoring these imports is crucial for policymakers as fluctuations can influence the Indian economy significantly.
In conclusion, Switzerland's strategic position in the global gold market, coupled with its refining capabilities and quality assurance, makes it the largest source of gold imports for India, accounting for a significant 40% of the total imports.
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Which country is the largest source of gold imports for India, account...
Switzerland is the largest source of gold imports for India, contributing 40% of the total gold imported. This significant percentage highlights Switzerland's role as a key player in the global gold market, known for its high-quality gold refining and trading practices. Understanding the dynamics of gold imports is essential for grasping the broader economic implications, as fluctuations in gold supply from major sources can affect market prices and trade balance.
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Which country is the largest source of gold imports for India, accounting for 40% of its total gold imports?a) Australiab) UAEc) Switzerlandd) South AfricaCorrect answer is option 'C'. Can you explain this answer? for Bank Exams 2025 is part of Bank Exams preparation. The Question and answers have been prepared according to the Bank Exams exam syllabus. Information about Which country is the largest source of gold imports for India, accounting for 40% of its total gold imports?a) Australiab) UAEc) Switzerlandd) South AfricaCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Bank Exams 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which country is the largest source of gold imports for India, accounting for 40% of its total gold imports?a) Australiab) UAEc) Switzerlandd) South AfricaCorrect answer is option 'C'. Can you explain this answer?.
Which country is the largest source of gold imports for India, accounting for 40% of its total gold imports?a) Australiab) UAEc) Switzerlandd) South AfricaCorrect answer is option 'C'. Can you explain this answer? for Bank Exams 2025 is part of Bank Exams preparation. The Question and answers have been prepared according to the Bank Exams exam syllabus. Information about Which country is the largest source of gold imports for India, accounting for 40% of its total gold imports?a) Australiab) UAEc) Switzerlandd) South AfricaCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Bank Exams 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which country is the largest source of gold imports for India, accounting for 40% of its total gold imports?a) Australiab) UAEc) Switzerlandd) South AfricaCorrect answer is option 'C'. Can you explain this answer?.
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