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Indias Gold Imports Soar: A 26.7% Jump to $35.95 Billion

India's gold imports witnessed a significant increase of 26.7% to $35.95 billion during April-December 2023, driven by robust demand in the domestic market....

India Could Have Achieved $5 Trillion GDP Target Earlier if Not for Gold Imports, Says Economic Advisory Council Member

India could have achieved Prime Minister Narendra Modi's dream of a $5 trillion GDP target long before if not for the habit of importing gold, a member of his economic advisory team said on Monday....

Sovereign Gold Bond Scheme: The Golden Opportunity by Indian Government

The Indian Government has launched the Sovereign Gold Bond Scheme 2023-24 Series II. This innovative financial instrument allows investors to benefit from investment in gold without the need to buy physical gold. About the Sovereign Gold Bond Scheme The ...

Gold Imports By India Fell 40% In The Last 8 Months

Gold imports which have a bearing on the current account deficit, fell 40% to $12.3 billion during April-November, according to data from the commerce ministry. The fall in imports is largely due to a decline in demand amid the COVID-19 pandemic and ...

India's Gold Imports In Aug Doubled To Hit 8-Month High: Report

India's gold imports in August had nearly doubled from a year ago to the highest level in eight months on an improvement in investment demand and restocking by jewellers on easing lockdown restrictions in the country, a Reuters report said on ...

India's Gold Imports Fell 24% In July Amid Record Prices

India's gold imports in July fell 24 percent from the same month a year ago as record-high prices of the metal in the country hurt demand along with lockdown and movement restrictions in many towns to curb the spread of coronavirus, ...

India's Gold Imports Fell By About 99% In May: Report

India's gold imports fell by about 99 percent in May, the second straight month of decline, due to the nationwide lockdown imposed to control the spread of the coronavirus pandemic, a Bloomberg report said citing sources. It said that inbound shipments ...

No Decision Yet Over Restriction on Gold Imports: Sitharaman

The government will take a decision on easing restrictions on gold imports after studying the issue in detail, Commerce and Industry Minister Nirmala Sitharaman said today. She said huge gold imports will have a big impact on balance of trade ...

Oct trade deficit rises to $10.56 billion

The Oct trade deficit number rose to $10.56 billion, as exports remained flat month on month. The Oct number was way above the Sept trade deficit number which had narrowed substantially to $6.7 billion. Exports fell marginally to $27.3 billion ...

India may finance CAD with forex reserves: World Bank

India may have to dip into its foreign exchange reserves to finance the current account deficit (CAD) in 2013-14, the World Bank said. "International reserves could decline somewhat in 2013-14 but would still amount to a comfortable import cover of ...

CAD to be much lower than initially forecast: FM

Buoyed by better-than-expected first quarter current account deficit (CAD) numbers, Finance Minister P. Chidambaram said he was confident of closing the fiscal with a better set of numbers than initially projected. The Minister also said economic growth closer to 5.5 ...

India not to ban gold imports or hike gold import duty

India is not likely to ban gold imports or increase import duties on the metal further, a Reuters report quoting a senior finance ministry official has said. The reports came after the rupee fell to a new low of almost 60 ...

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