The Price of Gold is rising dramatically in China, How about the india gold jewelry market?

The Price of Gold is rising dramatically in China, How about the india gold jewelry market?

Quoting from [Trademan]:

The Price of Gold is rising dramatically in China, How about the india gold jewelry market?

Here the prices of gold has increased by around USD 40 in last six months.

Replying to [Braham S Aggarwal]:

Early this year a couple of business associates were contemplating moving into gold trading as a business, and the first country I suggested they should consider is India. Just my personal opinion based on what I observed during my visit to New Delhi/other parts of India many years ago. Now that you mentioned $40 increase I think the market is attractive, considering the volume that must be actively traded. Am not myself familiar with this business, but am referring more to retail street and wholesale business.

How does a foreigner go about setting up a business solely to trade in gold there in India? Would it be adviseable to form partnership with local Indian businessmen, are there any trade associations looking after the interest of gold traders or are there other better options in order for foreigners to safeguard investment.

Any ideas/suggestion would be welcome. How would you go about it?

Replying to [Trademan]:It has been experience in past that, during festival season Gold prices shoot up in India and the boom reversed when the season is over for example Oct - Nov is the main season when prices are on its peak. and by Nov end or Dec it started falling down.