MUMBAI, India — India’s steep new tax on gold imports does not deter Mousumi Rao as she holds up a glittering $5,000 filigree necklace that could adorn her daughter on her wedding day. Rao’s 12-year-old is at least several years away from marriage.
Since tradition demands a bride practically drip with gold jewelry, it’s never too early for an Indian family to start preparing, particularly with the high cost of gold these days.
Comments
This comment has been removed.
Hundreds of years ago, India was awash in gold. British rule changed all that, pulling the gold out of India in return for cheap manufactured consumer goods.
This comment has been removed.