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Twenty Eco Mark licenses to fifteen companies have been awarded in India under three product categories i.e. paper, wood substitutes and finished leather and sixteen product categories have been notified since 1992 to 2000.

India, for the past 15 years, largely neglected its gold reserves. India’s gold holdings peaked in 1994 at 20% of its foreign exchange reserves. But up until Tuesday, those holdings had dropped to just 3.6% of the nation’s estimated $285.5 billion in foreign reserves.

In the past, larges sales of gold - mostly by European central banks - swamped the gold price and kept it in check. The European CBs either felt like they had too much gold doing too little work on the balance sheet. Or, they were manipulating the price of gold down by increasing the supply