India’s Top Jeweler Expects Brief Slowdown If Gold Buying Curbed

Titan Co. Ltd., India’s largest jeweler, expects a temporary slowdown in demand if the government implements any measures to curb gold-buying, but is confident that domestic consumption will remain resilient in the long term.

Titan is trying to assess how demand for the precious metal in the world’s second-largest consumer will change after Prime Minister Narendra Modi urged Indians to forgo gold-buying to ease pressure on foreign reserves. The firm does not expect a disruption in supply for as long as four months, Chief Financial Officer Ashok Sonthalia told Bloomberg TV.