Brief by Shorts91 Newsdesk / 11:33am on 29 Mar 2024,Friday Business
In India, Mr. Salunke carries on the family tradition, melting scrap gold from jewellers in Kochi and Tiruchirappalli. His refineries process 2-3 kilograms daily, serving local jewellers who value speed and cash transactions. This informal sector, known as the "unorganised" refining industry, is integral to India's gold market. With households hoarding an estimated 25,000 tonnes of gold, small refiners like Mr. Salunke provide a vital outlet, especially during economic hardships when people need to sell assets. Their quick turnaround and accessibility make them preferred partners for jewellers seeking to recycle gold efficiently.
