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

Gold imports up 85% to nearly $3 billion in January.


Date: 16-02-2016
Subject: Gold imports up 85% to nearly $3 billion in January
NEW DELHI: Driven by dip in global prices, India's gold imports increased by 85.16 per cent to USD 2.91 billion last month.

In January last year, were worth USD 1.57 billion, according to the Commerce Ministry data.

In December 2015, the imports of the metal had more than doubled, year-on-year, to USD 3.80 billion.

The prices have been declining at global as well as domestic markets. However, the higher import impacts the country's current account deficit (CAD).

India is the largest importer of gold in the world, the demand of which mostly comes from the jewellery industry.

During the April-January period of the current fiscal, gold imports have increased to USD 29.36 billion as against USD 27.42 billion in the first 10 months of 2014-15.

For the entire 2014-15 fiscal, gold was the third-largest commodity imported to India after crude oil and electronic items. Gold imports stood at USD 34.32 billion last fiscal.

In terms of volume, India -- the world's second-biggest gold consumer -- had imported around 900 tonnes in 2014.

Gold prices in the international market have fallen to a five-year low.

India imported 850 tonnes of gold during January-September period of 2015, as against 650 tonnes in the year-ago period.

In the July-September quarter of the current fiscal, CAD rose to USD 8.2 billion or 1.6 per cent of the GDP, from 1.2 per cent or USD 6.1 billion in the April-June quarter.

Source : economictimes.indiatimes.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: 19-07-2025
Notification No. 34/2025-Customs
Seeks to amend notification No. 146/94-Customs, dated the 13th July, 1994 to omit serial number 10A.

Date: 18-07-2025
Notification No. 33/2025-Customs
Seeks to amend notification No. 146/94-Customs, dated the 13th July, 1994 to provide exemption on import of Horses for Polo (HS 0101 29 10) under specified condition.

Date: 16-07-2025
Notification No. 47/2025-Customs (N.T.)
Appointment of Common Adjudicating Authority for the purpose of finalization of Provisional Assessment in SVB case w.r.t. M/s. Ammega Belting India Pvt. Ltd. -reg

Date: 15-07-2025
Notification No. 46/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 30-06-2025
Notification No. 44/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 30-06-2025
Notification No. 32/2025-Customs
Seeks to amend Notification No.130/2010- Customs dated 23.12.2010 to extend the exemption benefits to Air Canada.

Date: 13-06-2025
Notification No. 43/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 11-06-2025
Notification No. 42/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 06-06-2025
Notification No. 13/2025-Customs (ADD)
Seeks to impose Anti Dumping Duty on imports of ‘Insoluble Sulphur’ originating in or exported from China PR and Japan.

Date: 30-05-2025
Notification No. 38/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver



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