[amp_mcq option1=”Brazil” option2=”UAE” option3=”Switzerland” option4=”South Africa” correct=”option2″]<\/p>\n
The correct answer is (b), UAE.<\/p>\n
India is the world’s second-largest consumer of gold, after China. In 2020, India imported 750 tonnes of gold, worth $38 billion. The UAE is the largest exporter of gold to India, accounting for over 20% of India’s gold imports. The other options are incorrect. Brazil is a major producer of gold, but it does not export much gold to India. Switzerland is a major gold trading center, but it does not produce much gold itself. South Africa is a major producer of gold, but it does not export much gold to India.<\/p>\n
The UAE is a major gold trading center because it is a tax-free country. This makes it an attractive destination for gold traders, who can avoid paying taxes on their profits. The UAE also has a strong infrastructure for gold trading, including a number of banks and financial institutions that specialize in gold trading.<\/p>\n
India is a major consumer of gold because it is a traditional symbol of wealth and prosperity in Indian culture. Gold is also used in religious ceremonies and as a form of investment. The Indian government has taken steps to curb gold imports in recent years, but the demand for gold in India remains strong.<\/p>\n","protected":false},"excerpt":{"rendered":"
[amp_mcq option1=”Brazil” option2=”UAE” option3=”Switzerland” option4=”South Africa” correct=”option2″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-4299","post","type-post","status-publish","format-standard","hentry","category-economics","no-featured-image-padding"],"yoast_head":"\n