Reports & Indices
This category comprises Current Affairs 2019-2020 related to various reports and indexes / indices by National and International Bodies and organizations such as World, Bank, World Economic Forum, NITI Aayog and various other educational and research organizations. We also place report highlights of various committees and commissions in this category.
On May 27, 2020, the World Gold Council released its report on Retail Gold Insights: India Jewellery Report. According to the report, around 37% of Indian women never bought jewellery.
The report says that gold jewellery was the second most popular item among “Fashion and Lifestyle” shoppers next to clothes and silk sarees. Around 60% of Indian women already owned jewellery.
The 37% of Indian women that do not buy gold are now being seen as new target by the gold industry. Of these, 44% of the women are from rural areas and 30% are from urban.
According to the World Gold Council, the current young Indian women show least interest towards gold ornaments. Only 33% of women in the age group 18-24 bought gold jewellery. Their future purchase intent is low.
This is a great threat to the gold market. India is one of the largest gold market in the world and decrease in gold purchase in the country will affect gold industry badly.
Tags: gold • Gold Reserves • rural areas • Urban Services • World Gold Council
On May 24, 2020, the World Steel Association released the World Steel Report. According to the report, the crude steel report of India declined by 65%. During April 2020, the steel output of India was 3.13 million tonnes.
In April 2019, according to the report, India produced 9.02 million tonnes. In March 2020, India faced a decline of 14% steel output as compared to March 2019.
The report also says that the global steel output declined by 13%. In April 2019, the global steel output was 157.67 million tonnes. In April 2020, the output declined to 137.09 million tonnes.
Key Findings of the report
China has reported 1.7% fall in steel production. This is the first time China is facing an output decline. US faced a decline of 32%. South Korea’s steel production declined by 8.4%.
The other global steel producers such as European Union, France, Italy, Turkey, Spain, Russia, Ukraine and Brazil also faced decline in their output.
National Steel Policy
India is currently operating under its National Steel Policy 2017. Under the policy, India is to increase its steel production to 300 million tonnes by 2030. It alsi aims to make India self-sufficient in steel. It also aims to build a globally competitive steel industrial output in the country.