If so large amounts of food is imported, it is perfectly understandable; it would be feeding people. But what is mainly the use of gold? It may not have a sound rationale, but Indian have traditionally been buying gold.
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Indian buy gold for a variety of reasons, for due to its auspicious feeling; as an investment (Gold still has value over the long term, a tag of being a safe haven); protect against inflation; asset allocation, etc. Gold also involves a high perceived value and a high emotional quotient. It strengthens the proximity of relationships. Gold coins in smaller mainline denominations as well longer considered suitable for corporate gifts and rewards for competitions and for memorial gifts.
Without a lot of successful, of course. Indians love gold. They be positively fancy to the metal.
Most people think that Indians are crazy about gold. While this statement may not be entirely negative, the truth is that gold has always had a special meaning for all ages in India.From rural housewives in India and the 27-year-old would-be bride to generating black money, gold is simply a store of value or an international currency – is part of a lifestyle, a demonstration initial wealth, status, position, etc. Gold is provided as a means to various memorial commitments as golden anniversaries, weddings jubilee, gold medals, gold Credit Card, etc. In addition to its safe haven status during times of need. Over the centuries, certain festivals of India have been the moment to splurge on gold. Festivals including Akshay Trithiya and Dhant