aquib
Koduvally village near Kozhikode in north Kerala has nearly forgotten its tradition of pottery-making. Today, it is known as the state's "gold village", boasting more than 100 jewellery shops. Their clientele: hundreds of families who have relatives working in the Gulf.
The number of gold retailers in Kerala has gone upto 5000
In spite of sky-rocketing prices of the yellow metal-from Rs.4,395 per 10 gram in 2000 to more than Rs.20,000 in 2011-its demand has not been seriously affected in Kerala. The South Indian states alone account for 60 per cent of gold sales in India, the world's biggest gold consumer. According to industry sources, Kerala tops the country in gold consumption, with the largest number of retailers-more than 5,000 compared to 1,000 a decade ago. The state consumes about 75 tonnes-valued at about Rs.20,000 crore-of the 650 tonnes of gold sold in India every year and is home to some of Asia's largest gold showrooms. And it's not just the urban parts of the state where swanky, mammoth showrooms are coming up every day; even the villages are witnessing the gold rush with showrooms covering up to 35,000 sq ft.
It seems Kerala is the ‘Gold Capital’ of the country since the state accounts for about 25 per cent of total gold consumed in the country.
In 2011, 245 tonnes of gold worth Rs 75,000 crore was sold in the state. The overall consumption in the country during the period was 986 tonnes worth Rs 2.3 lakh crore. Kochi alone accounted for about 14 per cent of the total gold consumed in the state.
It is estimated that this year the total gold consumption in the country would be about 700-850 tonnes, and the consumption in Kerala will also be in tandem with that.
“People in Kerala are opting for gold even the prices are high considering it as a good investment option. It seems that the trend will continue in future too. Gold loan companies make it easier for the people to liquidate gold. Recently there has been a shift in the jewellery
The number of gold retailers in Kerala has gone upto 5000
In spite of sky-rocketing prices of the yellow metal-from Rs.4,395 per 10 gram in 2000 to more than Rs.20,000 in 2011-its demand has not been seriously affected in Kerala. The South Indian states alone account for 60 per cent of gold sales in India, the world's biggest gold consumer. According to industry sources, Kerala tops the country in gold consumption, with the largest number of retailers-more than 5,000 compared to 1,000 a decade ago. The state consumes about 75 tonnes-valued at about Rs.20,000 crore-of the 650 tonnes of gold sold in India every year and is home to some of Asia's largest gold showrooms. And it's not just the urban parts of the state where swanky, mammoth showrooms are coming up every day; even the villages are witnessing the gold rush with showrooms covering up to 35,000 sq ft.
It seems Kerala is the ‘Gold Capital’ of the country since the state accounts for about 25 per cent of total gold consumed in the country.
In 2011, 245 tonnes of gold worth Rs 75,000 crore was sold in the state. The overall consumption in the country during the period was 986 tonnes worth Rs 2.3 lakh crore. Kochi alone accounted for about 14 per cent of the total gold consumed in the state.
It is estimated that this year the total gold consumption in the country would be about 700-850 tonnes, and the consumption in Kerala will also be in tandem with that.
“People in Kerala are opting for gold even the prices are high considering it as a good investment option. It seems that the trend will continue in future too. Gold loan companies make it easier for the people to liquidate gold. Recently there has been a shift in the jewellery