And what earthly incentive do they have to distort the figures? What does it bring for them?
I honestly don't know, but my guess is that they are not attempting to report on global figures and are simply focusing on their own market. Their editorial focus in almost exclusively US centric. I know the Gold Council have been criticised in the past for maintaining too US-centric view and underestimating the market and demand levels, particularly in Asia, and they did alter their data collection methods in response, and made their methodology available to member companies to review.
I'd also suggest that two separate publications are likely to be more accurate than a data sampling of asking your Indian work buddies.
Hard to argue with you there. But neither party are quoting authoritative sources, so best be suspicious of both.