Question
Which Indian state is the largest producer of gold,
contributing about 80% of the country's gold production?Solution
Karnataka, notably from the Kolar Gold Fields, produces about 80% of India's gold. India's gold industry: • Holds significant gold reserves with major deposits in Bihar, Rajasthan, and Karnataka. • Karnataka produces about 80% of India's gold, notably from the Kolar Gold Fields. • Gold imports to India grew by 30% in 2023-24, reaching USD 45.54 billion, although there was a sharp decline in March 2024. • The Sovereign Gold Bond Scheme was launched to reduce physical gold demand and encourage investment in financial savings. • The Gold Standard is a carbon offset program aligning with the UN Sustainable Development Goals, focusing on projects that provide lasting benefits and was developed by entities including the World Wildlife Fund.
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