Jaipur edging forward as Indian leader for gold

The city of Jaipur in the Indian state of Rajasthan is edging towards a position as India's leading bullion market.

With a turnover in gold and silver worth around 500 - 600 million rupees (£6.3 million) per day, the city is increasingly becoming a centre for gold manufacturing, particularly of jewellery.

Traders can enjoy the benefits of the composition scheme, introduced into Rajasthan in 1994, which allows traders significant tax benefits, whilst jewellery buyers have seen an improvement in the quality of intricate gold jewellery designs.

"The jewellery of Jaipur is very beautiful, durable and the work of its intricate design, specially the nagina and meena works [intricate gold works], are absolutely different and no one can find similar work in any place except for in Jaipur," Sunita, a jewellery customer, told Asian News International (ANI).

Growth in the Jaipur jewellery market is estimated at 25 per cent per year. There are around 900 registered gold jewellery shops in the city, and between 250 and 300 export offices.