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India's gold imports increase by 23% to $34.6 billion in 2020-21
From the Press Trust of India
via The Times of India, Mumbai
Sunday, April 18, 2021
NEW DELHI -- Gold imports, which have a bearing on the country's current account deficit, rose by 22.58 per cent to US$34.6 billion (about Rs 2.54 lakh crore) during 2020-21 due to increased domestic demand, according to the Commerce Ministry data.
... Dispatch continues below ...
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Silver imports during the last fiscal, however, dipped by 71 percent to about US$791 million. Imports of the yellow metal stood at US$28.23 billion (about Rs 2 lakh crore) in 2019-20, the data showed.
Despite growth in gold imports, the country's trade deficit narrowed to US$98.56 billion during 2020-21 as against US$161.3 billion in 2019-20.
Gem and Jewellery Export Promotion Council Chairman Colin Shah said that increasing domestic demand is pushing up imports of gold. ...
... For the remainder of the report:
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