Despite the efforts of the Government of India discourage citizens of the country to buy gold in large quantities by means of restrictive measures, the inhabitants of the country still prefer to have their hands on the real physical gold in the form of jewelry and coins, not paper receipts for the precious metal.

Gold imports to India at the end of August 2015 doubled to $ 4.95 billion. (140 tons). It turns out that only one month were imported as much gold as it sold the largest ETF-funds of the Western countries in the past six months.

According to some experts, at the end of this 2015 gold imports to India could reach over 1,000 tons, as it was once a few years ago. Gold for India is the second most important imported food after crude oil, which led to an increase in the trade deficit of the country. In this situation looks strange situation in which the country does not develop gold production to reduce the share of imports.

According to the British newspaper the Guardian, the situation may change in the near future. The Government of India has decided to reactivate the old and deep mines, which can still contain gold worth $ 3.9 billion.

Gold deposits are found mainly in the south. Thus the Indian authorities intend to issue 80 licenses to develop brownfields, which are mainly developed in the colonial era. The field in the southern state of Karnataka was discovered in the 19th century by British colonizers. This was told by a local historian. Most of the gold mined there was sent to London.

Only in 1956 the gold deposit in Karnataka was natsinalizirovano, and in 2001 closed. The peak of gold mining in the region was achieved in the mid-1970s. It was in the early 2000s, the world price of gold was at its lowest level. Therefore, it was not profitable to develop the old and deep fields that require large cash expenditures. But in an attempt to reduce the share of imports of gold Indian authorities want to try again to produce the yellow precious metal in the country