Indians smuggle tons of gold. India is one of the largest gold importers in the world. Due to the trade deficit it has been restricted. This doesn't bother Indians very much. Negative consequences for the economy: "India is suffering from a "gold poisoning", said Kamalesh Chandra Chakrabarty, Vice President of the Indian central bank last year at a gold conference in Bangalore.
The craze for gold or some may call it "passion" is easy to explain: Few Indians have stocks or bonds, half of the pop…
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