India's love for gold is deeply rooted in tradition and culture, making it a timeless asset. Despite its diverse culture, gold is universally cherished across the country. Indians have a strong attachment towards gold, often considering it as the first choice for weddings or any other type of investment. India stands as the second-largest consumer of gold globally, showcasing the nation's strong cultural connection to this precious metal. The gold mining sector in India actively contributes to economic growth, providing employment opportunities and attracting investments, both domestic and foreign.
India ranks second in the gold market in the world, accounting for approximately one fourth of the world's gold demands. The Government of India has taken an initiative named the ‘Make in India in Gold’, boosting efforts to promote domestic manufacturing and production in the gold industry. This initiative aims to enhance the country's capacity to produce gold-related products, encourage exports and stimulate economic growth in the sector. According to the World Gold Council, India's demand for gold is expected to increase.
Best Gold Stocks in India as per Analyst Ratings and Market Capitalization are following:-
Kalyan Jewellers India Limited operates as a jewellery retailer in India, offering a wide range of jewellery products, including gold, diamond, white gold, pearl, gemstone and platinum. Its product lineup consists of providing rings, bracelets, bangles, earrings, chains and necklaces. The company's brands include MUDHRA, RANG, VEDHA, ANOKHI, APOORVA, TEJASVI, ZIAH, LAYA AND GLO.
Kalyan Jewellers has around 160 retail stores located across India and the Middle East. Furthermore, it provides customer service through the 'MY KALYAN' hub-and-spoke model outlets, making Kalyan Jewellers easily reachable for households in rural areas.
Titan Company Limited, a member of the TATA Group, stands out as a top Indian gold stock. It primarily engages in manufacturing and selling watches, jewellery, eyewear and other accessories.
The company provides a range of jewellery items including pendants, earrings, rings, chains and necklaces. Titan also offers eyewear products such as reading glasses, frames and sunglasses.
It provides franchising, distribution and licensing services. The company sells its products under various brands, including TITAN, SONATA, MIA, TITAN EYEPLUS, TANEIRA, TANISHQ, FASTRACK, ZOYA, SKINN, CARATLANE and others. Titan Company has expanded its presence with over 2,100 stores and currently operates 16 different brands.
Muthoot Finance Limited operates as a gold financing company. It provides an array of financial products, including gold loans, housing finance, personal loans, corporate loans, vehicle loans, general insurance, non-convertible debentures and more. Its gold loan schemes include the Muthoot One Percent Loan, Muthoot Delight Loan, Muthoot Mudra Loan, Muthoot Advantage Loan, etc.
Moreover, Muthoot Finance offers services such as money transfer, PAN Card services, foreign exchange, leasing and factoring services, travel solutions, and digital and cashless solutions.
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