Within a span of month’s time the Indian government has fallen in to its own rifts, After causing a spike in cotton prices following the imposition of an export ban where I did the story for Cotton & India . The whole process lasted about 72 hours from beginning to end. Days after, desperate to fund ongoing budget shortfalls, the government shifted its attention to price controls in a market it knew China would absolutely not mind to having the price kept artificially low – gold.
When an announcement made by the government to impose to levy an excise duty on unbranded jewelry. The response was swift – a countrywide strike among India’s jewellers who all went dark, crippling demand from one of the traditionally strongest gold markets in the world. Continue reading “It was cotton a month before now GOLD”