<h1>India Surpasses China as Top Gold Consumer in 2015; Launches Gold Schemes to Curb Imports and Boost Economy.</h1> India has become the world's largest gold consumer, surpassing China with 642 tonnes consumed in the first nine months of 2015. A decline in gold prices has driven increased demand in India. In response, the government launched three gold schemes on November 5, 2015: the Gold Monetization Scheme, Sovereign Gold Bond Scheme, and Indian Gold Coin. These initiatives aim to reduce reliance on gold imports by encouraging households to monetize their gold. The Gold Monetization Scheme offers tax exemptions similar to the previous Gold Deposit Scheme, aiming to mobilize domestic gold for productive use and reduce the current account deficit.