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India's gold imports News

India's gold imports

06 Dec 2017

India's November gold imports nearly halve on higher prices: GFMS

Tracking overseas markets, local gold prices surged to Rs 29,745 ($461.34) per 10 grams in mid-November, an 8.4 percent rise since the start of 2017.

09 Nov 2017

Gold demand in India seen falling to lowest in 8 years in 2017

Indian demand is likely to be around 650 tonnes in 2017, compared to a 10-year average of 845 tonnes.

08 Nov 2017

India's gold imports may fall 25% in December quarter

In the first nine months of 2017, the country`s gold imports surged 131 percent to 638.4 tonnes, according to GFMS data, as jewellers advanced buying in the first half of the year ahead of a sales tax hike that took effect from July 1.

India's gold imports

11 Jul 2017

India's June gold imports spike as buyers tried to beat higher sales tax

"Demand was higher than normal in June as some consumers advanced buying to avoid paying higher tax," Sudheesh Nambiath, a senior analyst with GFMS, a division of Thomson Reuters, said on Tuesday.

16 Jun 2017

Lower prices nudge gold demand; Indian buyers stay off

In India, gold demand has fallen as the wedding season is nearly over and farmers are busy in the sowing of summer-sown crops.

India's Exports

16 Jun 2017

India's exports grow 8.32% in May; trade deficit hits 30-month high due to increase in gold imports

Nearly three-fold jump in gold imports at USD 4.95 billion led to widening of trade deficit during the last month. It was USD 6.27 billion in May 2016.

India's gold imports

30 May 2017

Gold imports shrink 13.5% to $27.4 billion in FY17

India's gold imports declined by about 13.5 percent to USD 27.4 billion in 2016-17, which is expected to keep a lid on the current account deficit.

India's Exports

15 Feb 2017

India's exports rise for 5th month in January; gold imports drop 30%

India's exports continued to grow for the fifth straight month, expanding by 4.32 percent to USD 22.11 billion in January against USD 21.19 billion in the same month of 2016.

India's gold imports

12 Aug 2016

Gold imports drop 76% to 60 tonnes in Apr-Jul this year

India's gold imports fell sharply by 76 percent to 60 tonnes in the April-July period this fiscal on high import duty and other taxes, according to gold and silver refiner MMTC-PAMP.

05 May 2016

India's April gold imports down 67.3% to 19.6 tonnes

Gold imports fell sharply by 67.33 percent to 19.6 tonnes in April 2016 as jewellers' strike opposing one percent excise duty on non-silver jewellery significantly hit demand for the metal, according to gold and silver refiner MMTC Pamp.

India's gold imports

13 Apr 2016

India's gold imports drop 16% in FY 2015-16: Report

The world`s second biggest consumer imports in March slumped to 18 tonnes from 125 tonnes in the previous year.

gold monetisation scheme

05 Nov 2015

PM Narendra Modi launches gold schemes; coin with Ashok Chakra, Gandhi image

With the objective to bring down physical buying of gold, the Sovereign Gold Bonds Scheme was launched that offers 2.75 percent annual interest rate.

India's Exports

15 Oct 2015

Exports shrink for 10th month in a row, down 24.33% in September to $21.84 billion

The trade gap or trade deficit during April-September 2015-16 has narrowed to USD 67.99 billion as against USD 72.69 billion in the same period last fiscal.

14 Aug 2015

Exports continue to slide for 8th month; dip 10.3% in July

Hit by global slowdown, India's exports contracted for the eighth straight month by 10.3 percent in July to USD 23.13 billion, pushing the trade deficit to USD 12.81 billion.

11 Apr 2015

Gold imports hit 125 tonnes in March

Gold imports in the fiscal year 2014/15 ended March 31 jumped to 900 tonnes, up 36 percent from a year ago.

20 Mar 2015

Gold import curbs may have led to rise in smuggling activity

Import restrictions on gold may have led to increase in smuggling of the precious metal in recent years, Parliament was informed Friday.

16 Dec 2014

Govt to adopt wait and watch stand on rise in gold imports

The six-fold rise in gold imports is a matter of concern but the government will adopt a wait and watch stand and take a call at an appropriate time, a top commerce ministry official said here Tuesday.

01 Oct 2014

'India's gold imports may go up to 75 tonnes per month'

The country's gold imports are likely to rise to about 70-75 tonnes per month against the present average of 50-60 tonnes, a senior industry official said here.

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