India's Gold Imports Down 25% In First Quarter

India's Gold Imports Down 25% In First Quarter

India's gold imports fell by 25 percent to $8.43 billion in the first quarter of the current financial year due to sliding prices of the metal in both global and domestic markets Gold imports had amounted to $11.26 billion in the corresponding quarter of last financial year Contraction in gold imports help contain the current account deficit.

Rise in crude oil prices and imports too have impacted the trade deficit, which widened to $44.94 billion during April-June this financial year as against $40 billion in the same period of 2017-18 India is the largest importer of gold, which mainly caters to the demand of the jewellery industry As per the data, silver imports grew by 1045 per cent to $36424 million in June.

The country imports 700-800 tonnes of gold annually. . Source

Popular products near you

Popular Posts

Chanel encounters a “crush” with reinvented jewelry collection

French fashion house Chanel is looking for love and liberation with its reimagined Toi et Moi ring f...

read more

Curations: Lucky Spring blooms for Van Cleef & Arpels, with new jewellery creations inspired by ...

It has become a yearly tradition for Van Cleef & Arpels to celebrate the season of rebirth by unveil...

read more

White Gold Moissanite Engagement Ring Set MOI-7145S

This interlocking diamond wedding set features a solitaire engagement ring with round moissan...

read more

Gorgeous Diamond Jewelry For April Birthdays

Do April birthdays have it best? With diamonds as their birthstone, they just might. Our selection o...

read more

Subscribe to our Newsletter

Get the best news about jewelry and watch industries, products and services