Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Gold import shrinks 24% to $ 23 billion in Apr-Feb FY17.


Date: 10-04-2017
Subject: Gold import shrinks 24% to $ 23 billion in Apr-Feb FY17
India's gold import witnessed a fall of about 24 per cent to USD 23.22 billion in April- February period of the last fiscal, which is expected to keep a lid on the current account deficit.

Total import of the precious metal in the corresponding period of 2015-16 stood at USD 30.71 billion.

According to industry experts, softening prices of gold in the domestic and world markets could be the reason for the same.

The contraction in import helped in narrowing the trade deficit to USD 95.2 billion during the 11-month period of 2016-17 as against USD 114.3 billion in the same period of the previous fiscal.

However, on a month-on-month basis, gold import jumped to USD 3.48 billion in February as against USD 1.4 billion in the same month last year, according to the commerce ministry data.

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

For the full year 2015-16, CAD stood at USD 22.1 billion, or 1.1 per cent of GDP, as against USD 26.8 billion, or 1.3 per cent, in 2014-15.

In volume terms, India imported 560.32 tonnes of gold during April-January period of the last fiscal.

Gold import aggregated to 968.06 tonnes in the entire 2015-16 fiscal and 915.47 tonnes in 2014-15.

At present, gold import attracts 10 per cent duty. The gems and jewellery industry along with the commerce ministry have time and again urged the Finance Ministry to consider cut in the import duty.

Source: moneycontrol.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 18-09-2025
Corrigendum
Corrigendum to Notification No. 9/2025 – Central Tax (Rate) dated 17.09.2025

Date: 17-09-2025
Notification No. 13/2025-Central Tax (Rate)
Seeks to amend Notification No. 21/2018- Central Tax (Rate) dated 26.07.2018.

Date: 17-09-2025
Notification No. 14/2025-Central Tax (Rate)
Seeks to notify GST rate for bricks.

Date: 17-09-2025
Notification No. 37/ 2025-Customs
Seeks to amend Notification No.19/2019-Customs dated 06.07.2019

Date: 17-09-2025
Notification No. 38/ 2025-Customs
Seeks to amend Notification No.29/2025-Customs dated 09.05.2025

Date: 17-09-2025
Notification No. 39/2025-Customs
Seeks to amend Notification No.50/2017-Customs, dated 30.06.2017

Date: 17-09-2025
NOTIFICATIONNo. 15/2025 – Central Tax
Seeks to exempt taxpayer with annual turnover less than Rs 2 Crore from filing annual return.

Date: 17-09-2025
NOTIFICATION No. 16/2025–Central Tax
Seeks to notify clauses (ii), (iii) of section 121, section 122 to section 124 and section 126 to 134 of Finance Act, 2025 to come into force.

Date: 17-09-2025
Notification No. 12/2025-Central Tax (Rate)
Seeks to amend Notification No. 8/2018- Central Tax (Rate) dated 25.01.2018.

Date: 17-09-2025
NOTIFICATION No. 14/2025 – Central Tax
Seeks to notify category of persons under section 54(6).



Exim Guru Copyright © 1999-2025 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001