Page 10 - Bullion World Volume 03 Issue 5 may 2023

Bullion World | Volume 3 | Issue 5 | May 2023

Mr Chirag Thakkar good import, which peaked from July
Director, Amrapali Industries, Gujarat to October. The higher volumes had
come against high price volatility
Highlights of the speech India’s annual demand for silver is
Amrapali is one of the largest gold approximately 6000 tonnes, with
and silver bullion dealers with a the material being imported through
pan-India presence. The group designated banks in the form of
runs one of the first BIS-accredited bullion.
refineries in the country and has
recently added a digital platform to The consignment model for bullion
the list of its offerings. India is being imports has worked seamlessly over
looked at as a key market driver for the past two decades. The recently
silver. At the LBMA 2022 Annual launched IIBX. There is a need to
Conference last year, the Indian reduce the import duty on bullion
silver market growth story was the as it hampers the trade across
Mr Chirag Thakkar
main topic. India had a significantly the supply chain, especially for
manufacturers and refiners.

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