Annual gold demand in India is said to total some 900 tonnes and to be worth nearly $34 billion at current prices.
So where is the all the money we are pouring into the yellow metal going? Who are the jewellers benefitting the most?
Wealth-X, a global authority on 'wealth intelligence', decided to investigate.
These are the 10 men they discovered to be our richest jewellers.
Image: Actress Sneha is seen promoting the World Gold Council's Azva range of jewellery in this file photo.
Image Courtesy: World Gold Council