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    Intensive PSIR Studies with PSIR Optional Coaching Enhance your #PSIR studies for #UPSC with our PSIR optional coaching! This comprehensive program offers in-depth lectures, high-quality study materials, and expert insights, covering all essential topics in the PSIR syllabus. Our PSIR optional coaching ensures you understand critical concepts thoroughly, improving your answer-writing skills and confidence. Join today for structured preparation and personalized guidance, ensuring your success in UPSC exams. For more info visit: https://iasscore.in/upsc-courses/political-science-foundation
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  • Effective UPSC Prep with Our Crash Course Political Science

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  • Armenia: Cast Adrift in a Tough Neighborhood.
    On the day Azerbaijan’s military sliced through the defenses of an ethnic Armenian redoubt last week, American soldiers from the 101st Airborne Division had just finished a training mission in nearby Armenia, a longtime ally of Russia that has been trying to reduce its nearly total dependence on Moscow for its security.

    The Americans unfurled a banner made up of the flags of the United States and Armenia, posed for photographs — and then left the country. At the same time, nearly 2,000 Russian “peacekeepers” were dealing with the mayhem unleashed by their earlier failure to keep the peace in the contested area, Nagorno-Karabakh, recognized internationally as being part of Azerbaijan.

    The timing of the U.S. soldiers’ rapid exit at the end of their training work — carried out under the intimidating name Eagle Partner but involving only 85 soldiers — had been scheduled for months.

    Yet, coinciding as it did with the host country’s greatest moment of need, it highlighted an inescapable reality for Armenia: While it might want to reduce its reliance on an untrustworthy Russian ally that, preoccupied by the war in Ukraine, did nothing to prevent last week’s debacle, the West offers no plausible alternative.

    On Thursday, the defeated ethnic Armenian government of Nagorno-Karabakh formally dissolved itself and told residents they had no choice but to leave or to live under Azerbaijani rule, acknowledging a new reality enabled by Russian passivity and unhindered by Washington.

    The Biden administration rushed out two senior officials over the weekend to the Armenian capital, Yerevan, to offer comfort to Armenia’s embattled prime minister, Nikol Pashinyan. But it has so far resisted placing sanctions on Azerbaijan for a military assault that the State Department previously said it would not countenance.

    “We feel very alone and abandoned,” said Zohrab Mnatsakanyan, Pashinyan’s former foreign minister.

    That is not a good position to be in for a country in the South Caucasus, a volatile region of the former Soviet Union where the destiny of small nations has for centuries been determined by the interests and ambitions of outside powers.

    “Mentally, we live in Europe, but geographically, we live in a very different place,” said Alexander Iskandaryan, director of the Caucasus Institute, a research group in Yerevan. “Our neighbors are not Switzerland and Luxembourg, but Turkey, Iran and Azerbaijan.”

    This tough and predominantly Muslim neighborhood has meant that Armenia, intensely proud of its history as one of the world’s oldest Christian civilizations, has traditionally looked to Russia for protection, particularly since the 1915 Armenian genocide by the Ottoman Empire, a perennial enemy of the Russian Empire.

    After the collapse of the Soviet Union, Armenia in 1992 joined a Russian-led military alliance offering “collective security” and expanded close economic ties with Russia forged during the Soviet era. There are, by some estimates, more Armenians living in Russia than in their home country, which gets two-thirds of its energy from Russia.

    These intimate bonds, however, have now frayed so badly that some supporters of Pashinyan fear that Russia wants to capitalize on public anger and daily protests in Yerevan over the loss of Nagorno-Karabakh to try to topple the Armenian leader for having let U.S. troops in to help train his army.

    The training mission was small and lasted just a few days, but that, along with other outreach to the West by Pashinyan — including a push to ratify a treaty that would make Russian President Vladimir Putin liable for arrest on suspicion of war crimes under a warrant issued by the International Criminal Court should he visit Armenia — infuriated Moscow.

    “They blew it out of all proportion,” said Mnatsakanyan, because “in their view, you are either their stooge or an American stooge.” Armenia, he said, never had any intention of “jumping to America.”

    “That is childish,” he added. “Playing simplistic geopolitical games, allowing ourselves to be the small change in global competition, is going to be at our cost.”

    But the cost for Armenia, whatever its intentions, has already been high and could get much higher if, as many fear, Azerbaijan, with support from Turkey and a wink and a nod from a distracted Russia, expands its ambitions and tries to snatch a chunk of Armenian territory to open up a land corridor to Nakhchivan, a patch of Azerbaijani territory inside Armenia’s borders.

    Benyamin Poghosyan, the former head of the Armenian Ministry of Defense’s research unit, said Azerbaijan’s conquest last week after more than three decades of on-off war in Nagorno-Karabakh “is not the end; it is just the start of another never-ending story.”

    Pashinyan has so far weathered noisy, daily protests outside his office that show little sign of gaining momentum — to the frustration of pro-Russia activists like Mika Badalyan, a journalist and agitator, who warned Wednesday that “we have very little time.”

    “All the talk about constitutional methods and impeachments,” he told his followers on the Telegram messaging app, “must be forgotten; Nikola will only be demolished by the street.”

    Russian state media has frothed with bile against the prime minister, routinely described as a traitor to his people and to Russia, and against the United States for feasting, in Moscow’s view, on Russia’s travails in Ukraine to lure away its friends. “American jackals,” screamed Sergei Karnaukhov, a commentator on state television.

    Tatul Hakobyan, an Armenian journalist who has known the prime minister for decades and meets with him regularly, said Russian state media and senior officials like former President Dmitry Medvedev were “openly supporting people in Armenia who want to topple Pashinyan.” But Putin, he added, has yet to show his hand.

    Many Armenians blame Russian inaction for the loss of Nagorno-Karabakh to Azerbaijan, accusing Moscow of abandoning its small ally in pursuit of bigger economic and diplomatic opportunities offered by Turkey and Azerbaijan.

    That Russia would realign its priorities in favor of a former Soviet satrap like Azerbaijan or Turkey, which it has long viewed as an impertinent interloper into former Soviet lands, is a sign of how much the war in Ukraine has rearranged and shrunk Russia’s horizons.

    “Azerbaijan and Turkey suddenly became a lot more important to Russia than we are because of the war in Ukraine,” Poghosyan said. “Russia is busy in Ukraine, and it doesn’t have a lot of interest in us.”

    In a bitter speech last weekend to mark Armenia’s independence day, Pashinyan said responsibility for the suffering of tens of thousands of terrified ethnic Armenians fleeing their conquered enclave lies “entirely” with Azerbaijan and “on the peacekeeping troops of the Russian Federation in Nagorno-Karabakh.”

    Armenia, he added, “has never betrayed its allies,” but “the security systems and allies we have relied on for many years have set a task to demonstrate our vulnerabilities and justify the impossibility of the Armenian people to have an independent state.”

    For some of the more than 75,000 ethnic Armenians who had fled Nagorno-Karabakh by Thursday, the explanation for their plight is simple: Unlike Azerbaijan, Armenia has neither large reserves of oil and gas nor control of vital transport routes to Iran, an important source of weapons and other support for Russia in Ukraine.

    “They succeed because they have oil and they buy everyone,” said Naver Grigoryan, a Nagorno-Karabakh musician who joined a cavalcade of cars and trucks carrying refugees into Armenia. “We have nothing. We can only talk.”

    Azerbaijan’s energy resources have also made it a vital partner for the European Union, whose hunger for energy as it tries to wean itself off deliveries from Russia make autocratic Azerbaijan a “reliable, trustworthy partner,” as a high-ranking EU official said last year.

    The EU has condemned Azerbaijan’s attack on Nagorno-Karabakh but has taken no concrete action.

    The Biden administration has stressed in the past that the use of force in Nagorno-Karabakh was “unacceptable.” Nevertheless, in a meeting with Pashinyan in Armenia this week, Samantha Power, the head of the U.S. Agency for International Development, said only that the United States expressed support for his leadership and “reformist government.”

    Ashot Manutiyan, a retired mining engineer taking part in the protests against Pashinyan, said he was encouraged by the U.S.’ statements of support for Armenia’s government because they might suggest it was doomed.

    “Look what happened to Saakashvili,” he said, referring to the zealously pro-Western former president of neighboring Georgia, Mikheil Saakashvili. “Where is he now? He is sick and in jail.”

    He cursed Russia for not intervening to stop Azerbaijan’s attack on Nagorno-Karabakh but said “small countries like Armenia” in Russia’s backyard can’t afford to “poke the bear, especially when it is sick” because of its war in Ukraine.
    Armenia: Cast Adrift in a Tough Neighborhood. On the day Azerbaijan’s military sliced through the defenses of an ethnic Armenian redoubt last week, American soldiers from the 101st Airborne Division had just finished a training mission in nearby Armenia, a longtime ally of Russia that has been trying to reduce its nearly total dependence on Moscow for its security. The Americans unfurled a banner made up of the flags of the United States and Armenia, posed for photographs — and then left the country. At the same time, nearly 2,000 Russian “peacekeepers” were dealing with the mayhem unleashed by their earlier failure to keep the peace in the contested area, Nagorno-Karabakh, recognized internationally as being part of Azerbaijan. The timing of the U.S. soldiers’ rapid exit at the end of their training work — carried out under the intimidating name Eagle Partner but involving only 85 soldiers — had been scheduled for months. Yet, coinciding as it did with the host country’s greatest moment of need, it highlighted an inescapable reality for Armenia: While it might want to reduce its reliance on an untrustworthy Russian ally that, preoccupied by the war in Ukraine, did nothing to prevent last week’s debacle, the West offers no plausible alternative. On Thursday, the defeated ethnic Armenian government of Nagorno-Karabakh formally dissolved itself and told residents they had no choice but to leave or to live under Azerbaijani rule, acknowledging a new reality enabled by Russian passivity and unhindered by Washington. The Biden administration rushed out two senior officials over the weekend to the Armenian capital, Yerevan, to offer comfort to Armenia’s embattled prime minister, Nikol Pashinyan. But it has so far resisted placing sanctions on Azerbaijan for a military assault that the State Department previously said it would not countenance. “We feel very alone and abandoned,” said Zohrab Mnatsakanyan, Pashinyan’s former foreign minister. That is not a good position to be in for a country in the South Caucasus, a volatile region of the former Soviet Union where the destiny of small nations has for centuries been determined by the interests and ambitions of outside powers. “Mentally, we live in Europe, but geographically, we live in a very different place,” said Alexander Iskandaryan, director of the Caucasus Institute, a research group in Yerevan. “Our neighbors are not Switzerland and Luxembourg, but Turkey, Iran and Azerbaijan.” This tough and predominantly Muslim neighborhood has meant that Armenia, intensely proud of its history as one of the world’s oldest Christian civilizations, has traditionally looked to Russia for protection, particularly since the 1915 Armenian genocide by the Ottoman Empire, a perennial enemy of the Russian Empire. After the collapse of the Soviet Union, Armenia in 1992 joined a Russian-led military alliance offering “collective security” and expanded close economic ties with Russia forged during the Soviet era. There are, by some estimates, more Armenians living in Russia than in their home country, which gets two-thirds of its energy from Russia. These intimate bonds, however, have now frayed so badly that some supporters of Pashinyan fear that Russia wants to capitalize on public anger and daily protests in Yerevan over the loss of Nagorno-Karabakh to try to topple the Armenian leader for having let U.S. troops in to help train his army. The training mission was small and lasted just a few days, but that, along with other outreach to the West by Pashinyan — including a push to ratify a treaty that would make Russian President Vladimir Putin liable for arrest on suspicion of war crimes under a warrant issued by the International Criminal Court should he visit Armenia — infuriated Moscow. “They blew it out of all proportion,” said Mnatsakanyan, because “in their view, you are either their stooge or an American stooge.” Armenia, he said, never had any intention of “jumping to America.” “That is childish,” he added. “Playing simplistic geopolitical games, allowing ourselves to be the small change in global competition, is going to be at our cost.” But the cost for Armenia, whatever its intentions, has already been high and could get much higher if, as many fear, Azerbaijan, with support from Turkey and a wink and a nod from a distracted Russia, expands its ambitions and tries to snatch a chunk of Armenian territory to open up a land corridor to Nakhchivan, a patch of Azerbaijani territory inside Armenia’s borders. Benyamin Poghosyan, the former head of the Armenian Ministry of Defense’s research unit, said Azerbaijan’s conquest last week after more than three decades of on-off war in Nagorno-Karabakh “is not the end; it is just the start of another never-ending story.” Pashinyan has so far weathered noisy, daily protests outside his office that show little sign of gaining momentum — to the frustration of pro-Russia activists like Mika Badalyan, a journalist and agitator, who warned Wednesday that “we have very little time.” “All the talk about constitutional methods and impeachments,” he told his followers on the Telegram messaging app, “must be forgotten; Nikola will only be demolished by the street.” Russian state media has frothed with bile against the prime minister, routinely described as a traitor to his people and to Russia, and against the United States for feasting, in Moscow’s view, on Russia’s travails in Ukraine to lure away its friends. “American jackals,” screamed Sergei Karnaukhov, a commentator on state television. Tatul Hakobyan, an Armenian journalist who has known the prime minister for decades and meets with him regularly, said Russian state media and senior officials like former President Dmitry Medvedev were “openly supporting people in Armenia who want to topple Pashinyan.” But Putin, he added, has yet to show his hand. Many Armenians blame Russian inaction for the loss of Nagorno-Karabakh to Azerbaijan, accusing Moscow of abandoning its small ally in pursuit of bigger economic and diplomatic opportunities offered by Turkey and Azerbaijan. That Russia would realign its priorities in favor of a former Soviet satrap like Azerbaijan or Turkey, which it has long viewed as an impertinent interloper into former Soviet lands, is a sign of how much the war in Ukraine has rearranged and shrunk Russia’s horizons. “Azerbaijan and Turkey suddenly became a lot more important to Russia than we are because of the war in Ukraine,” Poghosyan said. “Russia is busy in Ukraine, and it doesn’t have a lot of interest in us.” In a bitter speech last weekend to mark Armenia’s independence day, Pashinyan said responsibility for the suffering of tens of thousands of terrified ethnic Armenians fleeing their conquered enclave lies “entirely” with Azerbaijan and “on the peacekeeping troops of the Russian Federation in Nagorno-Karabakh.” Armenia, he added, “has never betrayed its allies,” but “the security systems and allies we have relied on for many years have set a task to demonstrate our vulnerabilities and justify the impossibility of the Armenian people to have an independent state.” For some of the more than 75,000 ethnic Armenians who had fled Nagorno-Karabakh by Thursday, the explanation for their plight is simple: Unlike Azerbaijan, Armenia has neither large reserves of oil and gas nor control of vital transport routes to Iran, an important source of weapons and other support for Russia in Ukraine. “They succeed because they have oil and they buy everyone,” said Naver Grigoryan, a Nagorno-Karabakh musician who joined a cavalcade of cars and trucks carrying refugees into Armenia. “We have nothing. We can only talk.” Azerbaijan’s energy resources have also made it a vital partner for the European Union, whose hunger for energy as it tries to wean itself off deliveries from Russia make autocratic Azerbaijan a “reliable, trustworthy partner,” as a high-ranking EU official said last year. The EU has condemned Azerbaijan’s attack on Nagorno-Karabakh but has taken no concrete action. The Biden administration has stressed in the past that the use of force in Nagorno-Karabakh was “unacceptable.” Nevertheless, in a meeting with Pashinyan in Armenia this week, Samantha Power, the head of the U.S. Agency for International Development, said only that the United States expressed support for his leadership and “reformist government.” Ashot Manutiyan, a retired mining engineer taking part in the protests against Pashinyan, said he was encouraged by the U.S.’ statements of support for Armenia’s government because they might suggest it was doomed. “Look what happened to Saakashvili,” he said, referring to the zealously pro-Western former president of neighboring Georgia, Mikheil Saakashvili. “Where is he now? He is sick and in jail.” He cursed Russia for not intervening to stop Azerbaijan’s attack on Nagorno-Karabakh but said “small countries like Armenia” in Russia’s backyard can’t afford to “poke the bear, especially when it is sick” because of its war in Ukraine.
    0 Comments 0 Shares 2708 Views
  • Hundreds of political prisoners still suffer in Tibetan prisons.
    Freedom of speech is not allowed in any sense.
    It is illegal to possess a photo of the Dalai Lama.
    - Joanna Lumley
    Hundreds of political prisoners still suffer in Tibetan prisons. Freedom of speech is not allowed in any sense. It is illegal to possess a photo of the Dalai Lama. - Joanna Lumley
    0 Comments 0 Shares 227 Views
  • I would hope to inspire in my listeners a feeling of freedom -
    of speech, thought and political activity.
    - John Hall
    I would hope to inspire in my listeners a feeling of freedom - of speech, thought and political activity. - John Hall
    0 Comments 0 Shares 156 Views
  • https://corkroo.com/thread/1914
    #corkroocom corkroo.com https://corkroo.com/Ujuike...
    African Union, ECOWAS, European Union and America..
    No War and No Invasion. No Arming of Terrorists.

    "American double standard in other countries internal affairs"
    It's important to recognize that the perception of double standards is often a matter of perspective and can be influenced by complex geopolitical considerations. International relations are shaped by a multitude of factors,
    https://corkroo.com/thread/1914 #corkroocom corkroo.com https://corkroo.com/Ujuike... African Union, ECOWAS, European Union and America.. No War and No Invasion. No Arming of Terrorists. "American double standard in other countries internal affairs" It's important to recognize that the perception of double standards is often a matter of perspective and can be influenced by complex geopolitical considerations. International relations are shaped by a multitude of factors,
    CORKROO.COM
    Voice of Humanity on Corkroo
    #corkroocom corkroo.com https://corkroo.com/Ujuike... African Union, ECOWAS, European Union and America.. No War and No Invasion. No Arming of Terrorists. "American double stand
    0 Comments 0 Shares 906 Views
  • https://corkroo.com/thread/1909
    #corkroocom corkroo.com https://corkroo.com/Ujuike...
    African Union, ECOWAS, European Union and America..
    No War and No Invasion. No Arming of Terrorists.

    "American double standard in other countries internal affairs"
    Support for Authoritarian Regimes: Critics often point out instances where the U.S. has supported or tolerated authoritarian regimes when it aligns with its geopolitical interests, while criticizing similar behavior in other countries. For example, the U.S. has been accused of supporting authoritarian governments in the Middle East or Latin America, which can be seen as prioritizing stability over democracy and human rights.
    https://corkroo.com/thread/1909 #corkroocom corkroo.com https://corkroo.com/Ujuike... African Union, ECOWAS, European Union and America.. No War and No Invasion. No Arming of Terrorists. "American double standard in other countries internal affairs" Support for Authoritarian Regimes: Critics often point out instances where the U.S. has supported or tolerated authoritarian regimes when it aligns with its geopolitical interests, while criticizing similar behavior in other countries. For example, the U.S. has been accused of supporting authoritarian governments in the Middle East or Latin America, which can be seen as prioritizing stability over democracy and human rights.
    CORKROO.COM
    Voice of Humanity on Corkroo
    #corkroocom corkroo.com https://corkroo.com/Ujuike... African Union, ECOWAS, European Union and America.. No War and No Invasion. No Arming of Terrorists. "American double stand
    0 Comments 0 Shares 807 Views
  • The global precious metals market size was USD 261.94 billion in 2020. The industry is expected to expand from USD 275.40 billion in 2021 to USD 403.08 billion in 2028, exhibiting a CAGR of 5.6% from 2021 to 2028. The rise can be credited to increasing disposable incomes and changing lifestyle choices across various regions.

    Information Source - https://www.fortunebusinessinsights.com/precious-metals-market-105747

    Segments:

    Gold Segment to Register Notable Growth Due to Escalating Disposable Income

    Based on type, the market for precious metals is segmented into silver, gold, and platinum group metals. The gold segment is expected to record commendable expansion over the forecast period. The rise can be attributed to the surging disposable income and escalating knowledge regarding investments among consumers. Based on region, the industry is subdivided into Europe, Asia Pacific, North America, South America, and the Middle East & Africa.

    Industrial Segment to Record Commendable Surge Impelled by Growing Silver Demand

    Based on application, the industry for precious metals is fragmented into jewelry, industrial, investments, and others. Of these, the industrial segment is anticipated to depict considerable growth over the estimated period. The expansion can be credited to the surging silver demand from photovoltaic manufacturers. The segmental growth is further being driven by the rising demand for solar panels.

    Report Coverage:

    The report provides an in-depth analysis of the major trends that are expected to drive business growth over the forthcoming years. It further gives a comprehensive coverage of the key factors anticipated to impel the industry landscape across various regions. Additional aspects of the report comprise the significant steps taken by leading companies for the consolidation of their market position.

    Drivers and Restraints:

    Market Value to Surge Driven by Changing Lifestyle Choices & Surging Disposable Income

    Precious metals market growth is primarily being impelled by the changing lifestyle choices and surging disposable income. This is further being supplemented by the escalating significance of jewelry in the wedding ceremonies of India, China, and other South Asian countries. Besides, gold is considered as a safe haven for investment.

    However, the industry growth is likely to be hindered by a range of factors such as government reserves, geopolitical uncertainties, inflation, currency fluctuations, and others.

    Regional Insights:

    Asia Pacific to Emerge as Major Region Due to Presence of Electronics & Electrical Industry in the Region

    Asia Pacific precious metals market share is anticipated to register substantial growth through the forecast period. The surge can be credited to the presence of the largest electronics & electrical industry in the region. Further, India and China are key consumers of gold, which is expected to favor industry expansion to a considerable extent.

    The North America region is set to record commendable expansion over the estimated period. The rise can be attributed to robust manufacturing capabilities in the U.S. and the presence of precious mineral mines in the region.

    Competitive Landscape:

    Market Players Enter Partnership Agreements to Strengthen Industry Presence

    Leading companies are striking partnership deals and collaborations to strengthen their market presence. Several industry participants are focusing on a range of strategies including mergers, acquisitions, and the launch of new products to secure a competitive edge. Some of the additional initiatives include surging participation in trade fairs and conferences.
    The global precious metals market size was USD 261.94 billion in 2020. The industry is expected to expand from USD 275.40 billion in 2021 to USD 403.08 billion in 2028, exhibiting a CAGR of 5.6% from 2021 to 2028. The rise can be credited to increasing disposable incomes and changing lifestyle choices across various regions. Information Source - https://www.fortunebusinessinsights.com/precious-metals-market-105747 Segments: Gold Segment to Register Notable Growth Due to Escalating Disposable Income Based on type, the market for precious metals is segmented into silver, gold, and platinum group metals. The gold segment is expected to record commendable expansion over the forecast period. The rise can be attributed to the surging disposable income and escalating knowledge regarding investments among consumers. Based on region, the industry is subdivided into Europe, Asia Pacific, North America, South America, and the Middle East & Africa. Industrial Segment to Record Commendable Surge Impelled by Growing Silver Demand Based on application, the industry for precious metals is fragmented into jewelry, industrial, investments, and others. Of these, the industrial segment is anticipated to depict considerable growth over the estimated period. The expansion can be credited to the surging silver demand from photovoltaic manufacturers. The segmental growth is further being driven by the rising demand for solar panels. Report Coverage: The report provides an in-depth analysis of the major trends that are expected to drive business growth over the forthcoming years. It further gives a comprehensive coverage of the key factors anticipated to impel the industry landscape across various regions. Additional aspects of the report comprise the significant steps taken by leading companies for the consolidation of their market position. Drivers and Restraints: Market Value to Surge Driven by Changing Lifestyle Choices & Surging Disposable Income Precious metals market growth is primarily being impelled by the changing lifestyle choices and surging disposable income. This is further being supplemented by the escalating significance of jewelry in the wedding ceremonies of India, China, and other South Asian countries. Besides, gold is considered as a safe haven for investment. However, the industry growth is likely to be hindered by a range of factors such as government reserves, geopolitical uncertainties, inflation, currency fluctuations, and others. Regional Insights: Asia Pacific to Emerge as Major Region Due to Presence of Electronics & Electrical Industry in the Region Asia Pacific precious metals market share is anticipated to register substantial growth through the forecast period. The surge can be credited to the presence of the largest electronics & electrical industry in the region. Further, India and China are key consumers of gold, which is expected to favor industry expansion to a considerable extent. The North America region is set to record commendable expansion over the estimated period. The rise can be attributed to robust manufacturing capabilities in the U.S. and the presence of precious mineral mines in the region. Competitive Landscape: Market Players Enter Partnership Agreements to Strengthen Industry Presence Leading companies are striking partnership deals and collaborations to strengthen their market presence. Several industry participants are focusing on a range of strategies including mergers, acquisitions, and the launch of new products to secure a competitive edge. Some of the additional initiatives include surging participation in trade fairs and conferences.
    Precious Metals Market Size, Industry Share, Global Trends, Forecast, 2030
    The global precious metals market is projected to grow from $275.40 billion in 2021 to $403.08 billion in 2028 at a CAGR of 5.6% in forecast period, 2021-2028
    0 Comments 0 Shares 1411 Views
  • The global precious metals market size was USD 261.94 billion in 2020. The industry is expected to expand from USD 275.40 billion in 2021 to USD 403.08 billion in 2028, exhibiting a CAGR of 5.6% from 2021 to 2028. The rise can be credited to increasing disposable incomes and changing lifestyle choices across various regions.

    Information Source - https://www.fortunebusinessinsights.com/precious-metals-market-105747

    Segments:

    Gold Segment to Register Notable Growth Due to Escalating Disposable Income

    Based on type, the market for precious metals is segmented into silver, gold, and platinum group metals. The gold segment is expected to record commendable expansion over the forecast period. The rise can be attributed to the surging disposable income and escalating knowledge regarding investments among consumers. Based on region, the industry is subdivided into Europe, Asia Pacific, North America, South America, and the Middle East & Africa.

    Industrial Segment to Record Commendable Surge Impelled by Growing Silver Demand

    Based on application, the industry for precious metals is fragmented into jewelry, industrial, investments, and others. Of these, the industrial segment is anticipated to depict considerable growth over the estimated period. The expansion can be credited to the surging silver demand from photovoltaic manufacturers. The segmental growth is further being driven by the rising demand for solar panels.

    Report Coverage:

    The report provides an in-depth analysis of the major trends that are expected to drive business growth over the forthcoming years. It further gives a comprehensive coverage of the key factors anticipated to impel the industry landscape across various regions. Additional aspects of the report comprise the significant steps taken by leading companies for the consolidation of their market position.

    Drivers and Restraints:

    Market Value to Surge Driven by Changing Lifestyle Choices & Surging Disposable Income

    Precious metals market growth is primarily being impelled by the changing lifestyle choices and surging disposable income. This is further being supplemented by the escalating significance of jewelry in the wedding ceremonies of India, China, and other South Asian countries. Besides, gold is considered as a safe haven for investment.

    However, the industry growth is likely to be hindered by a range of factors such as government reserves, geopolitical uncertainties, inflation, currency fluctuations, and others.

    Regional Insights:

    Asia Pacific to Emerge as Major Region Due to Presence of Electronics & Electrical Industry in the Region

    Asia Pacific precious metals market share is anticipated to register substantial growth through the forecast period. The surge can be credited to the presence of the largest electronics & electrical industry in the region. Further, India and China are key consumers of gold, which is expected to favor industry expansion to a considerable extent.

    The North America region is set to record commendable expansion over the estimated period. The rise can be attributed to robust manufacturing capabilities in the U.S. and the presence of precious mineral mines in the region.

    Competitive Landscape:

    Market Players Enter Partnership Agreements to Strengthen Industry Presence

    Leading companies are striking partnership deals and collaborations to strengthen their market presence. Several industry participants are focusing on a range of strategies including mergers, acquisitions, and the launch of new products to secure a competitive edge. Some of the additional initiatives include surging participation in trade fairs and conferences.

    Key Industry Development:

    May 2021 – Newmont Corporation acquired GT Gold to strengthen its portfolio. The deal comprised the Tatogga project, which would contribute to the production of gold and copper.

    List of Key Players Mentioned in the Report:

    Newmont Corporation (U.S.)
    Barrick Gold Corporation (Canada)
    AngloGold Ashanti Limited (South Africa)
    Kinross Gold Corporation (Canada)
    Newcrest Mining Limited (Australia)
    Gold Fields Limited (South Africa)
    Freeport-McMoRan (U.S.)
    PJSC Polyus (Russia)
    Anglo American Platinum Limited (South Africa)
    Impala Platinum Holdings Limited (South Africa)
    The global precious metals market size was USD 261.94 billion in 2020. The industry is expected to expand from USD 275.40 billion in 2021 to USD 403.08 billion in 2028, exhibiting a CAGR of 5.6% from 2021 to 2028. The rise can be credited to increasing disposable incomes and changing lifestyle choices across various regions. Information Source - https://www.fortunebusinessinsights.com/precious-metals-market-105747 Segments: Gold Segment to Register Notable Growth Due to Escalating Disposable Income Based on type, the market for precious metals is segmented into silver, gold, and platinum group metals. The gold segment is expected to record commendable expansion over the forecast period. The rise can be attributed to the surging disposable income and escalating knowledge regarding investments among consumers. Based on region, the industry is subdivided into Europe, Asia Pacific, North America, South America, and the Middle East & Africa. Industrial Segment to Record Commendable Surge Impelled by Growing Silver Demand Based on application, the industry for precious metals is fragmented into jewelry, industrial, investments, and others. Of these, the industrial segment is anticipated to depict considerable growth over the estimated period. The expansion can be credited to the surging silver demand from photovoltaic manufacturers. The segmental growth is further being driven by the rising demand for solar panels. Report Coverage: The report provides an in-depth analysis of the major trends that are expected to drive business growth over the forthcoming years. It further gives a comprehensive coverage of the key factors anticipated to impel the industry landscape across various regions. Additional aspects of the report comprise the significant steps taken by leading companies for the consolidation of their market position. Drivers and Restraints: Market Value to Surge Driven by Changing Lifestyle Choices & Surging Disposable Income Precious metals market growth is primarily being impelled by the changing lifestyle choices and surging disposable income. This is further being supplemented by the escalating significance of jewelry in the wedding ceremonies of India, China, and other South Asian countries. Besides, gold is considered as a safe haven for investment. However, the industry growth is likely to be hindered by a range of factors such as government reserves, geopolitical uncertainties, inflation, currency fluctuations, and others. Regional Insights: Asia Pacific to Emerge as Major Region Due to Presence of Electronics & Electrical Industry in the Region Asia Pacific precious metals market share is anticipated to register substantial growth through the forecast period. The surge can be credited to the presence of the largest electronics & electrical industry in the region. Further, India and China are key consumers of gold, which is expected to favor industry expansion to a considerable extent. The North America region is set to record commendable expansion over the estimated period. The rise can be attributed to robust manufacturing capabilities in the U.S. and the presence of precious mineral mines in the region. Competitive Landscape: Market Players Enter Partnership Agreements to Strengthen Industry Presence Leading companies are striking partnership deals and collaborations to strengthen their market presence. Several industry participants are focusing on a range of strategies including mergers, acquisitions, and the launch of new products to secure a competitive edge. Some of the additional initiatives include surging participation in trade fairs and conferences. Key Industry Development: May 2021 – Newmont Corporation acquired GT Gold to strengthen its portfolio. The deal comprised the Tatogga project, which would contribute to the production of gold and copper. List of Key Players Mentioned in the Report: Newmont Corporation (U.S.) Barrick Gold Corporation (Canada) AngloGold Ashanti Limited (South Africa) Kinross Gold Corporation (Canada) Newcrest Mining Limited (Australia) Gold Fields Limited (South Africa) Freeport-McMoRan (U.S.) PJSC Polyus (Russia) Anglo American Platinum Limited (South Africa) Impala Platinum Holdings Limited (South Africa)
    Precious Metals Market Size, Industry Share, Global Trends, Forecast, 2030
    The global precious metals market is projected to grow from $275.40 billion in 2021 to $403.08 billion in 2028 at a CAGR of 5.6% in forecast period, 2021-2028
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