Global trade of gold compounds at present stands at an estimate of $5 billion of which India shares only about one percent. The gold compounds can do economic value addition for the Indian economy.
In India, jewelry and investment are the main two topics of discussion when it comes to gold. On the other hand, nations around the world are investing a lot on exploring other uses of gold. It is now used extensively for several other purposes – be it industrial, medical, gold nanoparticles for environment management, etc.
Gold is blessed with several properties including malleability, ductility, conductor of electricity and a lot more. Its characteristic of not reacting with other elements makes gold a unique catalyst. Recently, a study claimed that the nanogold particles transform air pollutants into harmless molecules. It is also used widely in solar cells, water purification, coating to reflect infrared light.
What is known as the ‘modern’ technology, people in India and China have been using gold nanoparticles since the ancient period? In India, gold ash or Swarnabhasmam(gold ash) which is about 28-35 nanometer in size is administered orally with milk, honey or ghee. In addition, people have been using gold in India for boosting their immunity and curing several other ailments of centuries.
Even if we talk about jewelry and investment, it has been a very recent phenomenon when Indian gold companies have started engaging in the international gold market. Rajesh Exports – Bangalore based gold giant processes about 35% of the total gold processed in the world and is the only company in the world which is engaged across the value chain of gold. The company is also the largest exporter of gold products in India.
Apart from the above-mentioned dimensions, gold is used in space engineering, electroplating in phones and several other high-end electronic gadgets.
In 2015, Apple Inc recovered a tonne of gold from discarded iPhones. For every 100,000 iPhones recovered, according to Apple Inc, 1.1 kg of gold can be recovered. Several other smartphones manufacturers use gold in different ways such as the main logic board, rear camera, front camera, wireless charging coil, etc.
Gold giants like Rajesh Exports, Tata’s Tanishq, PCJ Jewellers, etc. took the Indian gold market to an international level. Now it is time for entrepreneurs to explore other avenues of gold which will not only help the nation in developing new technologies but will also help in strengthening the overall economy of India.