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Indian gold import curbs to stay despite easing trade gap, official says
By Siddesh Mayenkar and Manoj Kumar
Reuters
Tuesday, December 17, 2013
India will keep a tight leash on gold imports despite a recent improvement in its trade deficit and lobbying by a bullion industry struggling with high premiums and a supply crunch.
The government is worried that the trade gap could worsen again and the currency could weaken as the U.S. Federal Reserve looks set to start tapering its economic stimulus soon.
"There is no proposal to relax restrictions on gold imports as of now," said a top finance ministry official who is part of the team deciding on gold import restrictions. He declined to be named as he is not authorised to speak to the media.
"The question has not arisen as a U.S. decision on tapering its monetary stimulus could come at any time (and) that could have severe implications for the rupee." ...
... For the full story:
http://in.reuters.com/article/2013/12/17/gold-india-imports-idINDEE9BG01...
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