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Gold Imports

Gold imports rise 26.7% to USD 35.95 billion in April-December FY24

Gold imports rise 26.7% to USD 35.95 billion in April-December FY24

Mon, Jan 29, 2024

The imports stood at USD 28.4 billion during the same period a year ago. In December 2023, imports of the precious metal jumped by 156.5 per cent to USD 3 billion, as per the data released by the commerce ministry.

India's Oct gold imports surge to 31-month high on festive demand

India's Oct gold imports surge to 31-month high on festive demand

Mon, Nov 20, 2023

Higher imports by the world’s second-biggest bullion consumer could support benchmark gold prices, but may also widen India’s trade deficit and put pressure on the ailing rupee.

India restricts import of gold jewellery and articles to tackle trade deficit

India restricts import of gold jewellery and articles to tackle trade deficit

Thu, Jul 13, 2023

The Indian government has restricted imports of certain gold jewellery and articles in an effort to address the swelling trade deficit. The move comes as imports of gold and other precious metals have declined in recent months. Importers will now need permission or a license from the government to import these gold products.

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Govt imposes import restrictions on certain gold jewellery, articles

Govt imposes import restrictions on certain gold jewellery, articles

Wed, Jul 12, 2023

The government on Wednesday imposed import restrictions on certain gold jewellery and articles, a move which would help cut import of non-essential items. Now an importer would need a permission of licence from the government for importing these gold products.

Govt to soon notify fresh window for gold import from UAE at concessional rate

Govt to soon notify fresh window for gold import from UAE at concessional rate

Thu, Apr 27, 2023

As per the earlier notification,78 applications from manufacturers were received now but the fresh window will be open for all those who have Importer Exporter Code (IEC).

India's gold imports dip 30 pc in April-February 2023; silver imports jump considerably

India's gold imports dip 30 pc in April-February 2023; silver imports jump considerably

Sun, Apr 09, 2023

India's gold imports declined to $31.8 billion during April-February 2023 from $45.2 billion in the corresponding period of 2021-22. Silver imports, however, jumped 66 per cent to $5.3 billion during April-February 2023

India's Gold imports surge to US $45 billion in April-February this fiscal

India's Gold imports surge to US $45 billion in April-February this fiscal

Sun, Mar 13, 2022

The gems and jewellery exports during the first nine months of the current fiscal grew by 57.5 per cent to USD 35.25 billion.

We expect gold imports to rise further in coming months: GJEPC

We expect gold imports to rise further in coming months: GJEPC

Wed, Oct 20, 2021

Gold imports, which have a bearing on the current account deficit, zoomed to about USD 24 billion during April-September 2021.

Gold imports dip 94 pc in Apr-Jun to USD 688 million

Gold imports dip 94 pc in Apr-Jun to USD 688 million

Mon, Jul 20, 2020

Gold imports, which have a bearing on the current account deficit (CAD), plunged 94 per cent to USD 688 million (about Rs 5,160 crore) during the first quarter of 2020-21 due to a significant fall in demand in the wake of the COVID-19 pandemic, according to data from the Commerce Ministry

Gold imports dip 6.77 pc during April-Dec 2019

Gold imports dip 6.77 pc during April-Dec 2019

Mon, Jan 27, 2020

Gold imports, which have a bearing on the current account deficit (CAD), fell 6.77 per cent to USD 23 billion during the April-December period of the current financial year, according data from the commerce ministry

Gold imports dip 5.5 percent during April-February to USD 29.5 bn

Gold imports dip 5.5 percent during April-February to USD 29.5 bn

Sun, Mar 24, 2019

After recording negative growth for three consecutive months -- October, November and December 2018, gold imports grew by 38.16 per cent to USD 2.31 billion in January this year. It again contracted by 10.8 per cent to USD 2.58 billion in February.

India's trade deficit narrows, but flat exports a concern

India's trade deficit narrows, but flat exports a concern

Tue, Jan 15, 2019

India`s trade deficit narrowed to $13.08 billion in December, the lowest in 10 months, on a fall in gold imports but exports remained flat, deepening concerns for Prime Minister Narendra Modi who wants to accelerate growth ahead of elections.

India just not buying gold! Check out the poor numbers

India just not buying gold! Check out the poor numbers

Fri, Nov 16, 2018

The imports mainly take care of demand of the jewellery industry. The exports of gems and jewellery grew by about 5.5 per cent during the month to USD 34.9 billion.

Gold imports up 4% to USD 17.63 billion in Apr-Sep 2018-19

Gold imports up 4% to USD 17.63 billion in Apr-Sep 2018-19

Fri, Oct 19, 2018

Gold imports increased by about 4 per cent to USD 17.63 billion in the first half of 2018-19, inflating the country's trade deficit and fuelling worries about the current account deficit.

World Gold Council warns India against curbs on gold imports

World Gold Council warns India against curbs on gold imports

Wed, Sep 19, 2018

India should not tamper with its gold import duty or impose other restrictions to support the rupee, the World Gold Council said on Wednesday, as the government considers ways to cut "non-necessary" imports to stem an outflow of dollars.

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

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

Tue, Jul 11, 2017

Gold premiums in India jumped to $10 an ounce in the last week of June, the highest level in 7-1/2 months.

Indian gold imports to drop back sharply after Q1 spike: WGC

Indian gold imports to drop back sharply after Q1 spike: WGC

Thu, May 18, 2017

Full-year imports will be little changed from 2016`s 524 tonnes, gold industry-funded WGC`s managing director for India Somasundaram PR said.

Growth in gold, crude oil imports sees three-fold rise in India's trade deficit

Growth in gold, crude oil imports sees three-fold rise in India's trade deficit

Mon, May 15, 2017

While gold imports in India rose three-fold during April, crude oil imports further grew by 30% putting more pressure on out trade deficit.

Gold imports fall sharply post-demonetisation

Gold imports fall sharply post-demonetisation

Sun, Mar 12, 2017

India is one of the largest gold importers in the world, and the imports mainly take care of demand from the jewellery industry.

Direct tax collection records growth of nearly 11% in April-February; indirect tax collection up 22%

Direct tax collection records growth of nearly 11% in April-February; indirect tax collection up 22%

Fri, Mar 10, 2017

The Government of India's net refunds of direct tax collection from April to February 2016-17 has risen 10.7% to Rs 6.17 lakh crore as compared to same period last year.

India's current account deficit likely to be 1.3% of GDP in 2017: Nomura

India's current account deficit likely to be 1.3% of GDP in 2017: Nomura

Mon, Jan 16, 2017

India's current account deficit (CAD) is expected to be around 1.3% of GDP in 2017 as against a deficit of 0.8% in 2016, says a report.

Will gold remain most trusted metal after demonetisation?

Will gold remain most trusted metal after demonetisation?

Mon, Dec 12, 2016

With people moving towards 'digitalisation', Kothari believes that sales of only coin on e-commerce sites will shoot up.

India’s gold imports at 11-month high in October at over 99 tons

India’s gold imports at 11-month high in October at over 99 tons

Mon, Dec 05, 2016

Ministry of Commerce and Industry, on Monday revealed the details of gold imports in India over the past year and October’s imports which amounted to 99.62 tons valued at $3.5 billion.

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