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Monday, 8th June 2009 (1027 views)

India could be set to see a significant increase in gold mining, an expert has noted.

Modali Hanuma Prasad, exploration manager for Deccan Gold Mines, made the point at the India Investment Show 2009, organised by Myiris.

He explained that a new government policy will simplify licence procedures, which could lead to a boost in gold exploration.

According to Mr Prasad, the country "offers potential", but currently produces just 0.4 per cent of its consumption.

"India is historically recognised as one of the oldest gold mining centres in the world. But, it ranks way below in gold production," he was quoted as saying, although he added that the future "looks brighter".

The expert also pointed to the fact that four gold projects are planned by private firms, with output likely to rise steadily as exploration continues.

Jetha Bhai Zaveri recently launched a collection of gold jewellery that had been inspired by Indian tribal culture.

 

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