Top Indian gold seller shuts shops as industry grinds to a halt
INTERNATIONAL – India’s jewelry industry has come to a standstill as the government locked down much of the country to try and stem the spread of the coronavirus.
Titan Co., the nation’s biggest jeweler by market value, has shut stores until March 29, it said in a statement. The company has also closed its manufacturing units for the week and will review the situation at the end of the period, it said.
Demand in India, the world’s second-biggest gold consumer, has already tumbled amid record domestic prices and a slowing economy.
Source: iol.co.za
