The Battle for India’s $45 Billion Gold Industry Has Begun

India’s past and future are colliding in Anand Ghugre’s family jewelry shop in Mumbai.

“We still operate the way my father did for 50 years,” said Ghugre, 52, explaining that transactions were typically in cash and were not always recorded. “For small jewelers and the unorganized sector, most of our sales happen through personal connections. Sometimes they don’t want bills, but the jewelers can’t say no to them.”

Take a look around an Indian gold market with this 360 video. Use your mouse to move around.

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