Titan Says India's Gold Demand Remains Strong Despite Modi Curbs

Titan, India's largest jewellery retailer, said profit rose 63% and customer traffic increased in the latest quarter as gold demand continued to climb, according to ETNet. The Tata Group unit said Indian consumers have not heeded Prime Minister Narendra Modi's May call to pause gold purchases, and that the impact of his move to more than double gold import duties to 15% during the Iran conflict has not lasted. Titan Managing Director Ajoy Chawla said demand depends more on consumers' view of gold prices, adding that jewellery and gold remain popular as a store of value and part of investment portfolios.