India is known as one of the largest customer of Gold. “No gold, no wedding” is a famous saying in India; this Indian culture and tradition clearly indicates its obsession with gold. Ajay Mitra of the World Gold Council indicates the importance of India’s influence in the gold market, “If India sneezes, the gold industry will catch a cold.”
Among Indian men and women, whether rich or poor, their ultimate goal in life is to acquire gold. India’s fascination with gold is not restricted to jewelry but to utensils, ornaments and CLOTHES! Yes, like last year Indian businessman Datta Phuge dazzled the world with $230,888 gold shirt.
This year again, another Indian businessman and politician – Pankaj Parakh spent $213,000 on 4kg garment which is its weight in gold. The gold shirt was specially made for his birthday celebrations. The shirt has seven gold buttons and thin cloth lining for comfort. It took a team of 20 people to make the gold shirt in about 3,200 hours. The shirt is made up of pure gold with on other metal used in it.
Parakh was a high-school dropout and owns a multi-million pound family textile business near Mumbai. He is also a member of National Congress party in the state of Maharashtra. According to him, his family is not fond of his passion for gold metal. In fact he was considered an embarrassment on his marriage when he donned more gold than the bride.
Parakh says, “Gold always fascinated me since I was five years old and studying in school. Over the years, I have become passionate about this royal metal.”
The Indian politician has been targeted with accusation of flaunting his wealth and making joke of poverty in India. Despite what people say, the businessman has done quite a charity work in the country. He has funded 120 polio operations over the past five years. He spends at least a week each year for voluntary services at the 1,000-bedded hospital. He also fulfils the needs of poor patients such as food, medicines, surgery and blankets.
What do your think of this act from the Indian Politician, a passion for gold or publicity stunt? Share your thoughts in the comment section below.