In a social media post, Agarwal said global gold prices are currently at record highs and India imports 99.9 per cent of its requirement."With massive invest ments, we can be a major producer of gold and a big generator of employment," Agarwal said.In India, as of now, only Bharat Hold Mine and Hutti Gold Mine are producing gold and the best way forward is to privatise both the mines, he said.In 2023, India's total gold consumption was 747.5 tonnes, a 3 per cent decrease from the previous year.Gold prices rebounded on Friday after falling for the past three sessions, rising by ₹50 to ₹70,700 per 10 grams in the local market due to strong trend in global prices.The precious metal had earlier closed at 70,650 per 10 grams in the previous session on Thursday.In the Budget, the central government decided to reduce import duty on gold to 6 per cent from 15 per cent, leading to a sharp fall in the local markets.

Vedanta chief for privatising gold mines to boost output

33.70,1747.65,696.70,134.92,2020.00,3101.00

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