Gold Imports Rise
Gold imports up 6.4% to $13 billion in April-July due to 'healthy demand'
India's gold imports, which have a bearing on the country's Current Account Deficit (CAD), rose 6.4 per cent to USD 12.9 billion during April-July this fiscal due to healthy demand, according to government data. The imports stood at USD 12 billion during the same period a year ago. In July 2022, however, imports of the precious metal fell sharply by 43.6 per cent to USD 2.4 billion, as per the latest data released by the commerce ministry. Increase in gold and oil imports during the first four months of this fiscal contributed to a record trade deficit of USD 30 billion, against USD 10.63 billion in April-July 2021. India is the world's second-biggest gold consumer after China. The imports mainly take care of the demand by the jewellery industry. The gems and jewellery exports during the first four months of the current fiscal grew by about 7 per cent to USD 13.5 billion. A wider trade gap during 2021-22 expanded the country's current account deficit at 1.2 per cent of GDP agains
 "Gold imports up 6.4% to $13 billion in April-July due to 'healthy demand'")
Gold demand jumps as lockdowns ease, imports rebound by 25% in July
Overseas purchases rose to 25.5 tonnes in July from 20.4 tonnes a year earlier and were almost double the amount shipped in the previous month
 "Gold demand jumps as lockdowns ease, imports rebound by 25% in July")
Domestic demand boosted India's gold imports by 53% in 2017 to 846 tonnes
The world's second largest gold consumer had imported 550 tonnes of the metal in 2016
 "Domestic demand boosted India's gold imports by 53% in 2017 to 846 tonnes")
India gold imports surge 67 percent in 2017 on restocking, retail demand
The move created a cash crunch and dampened gold purchases in the last quarter of 2016
 "India gold imports surge 67 percent in 2017 on restocking, retail demand")
GJEPC seeks duty cut, says Indian gold imports to cross 700 tonnes in FY18
Dubai acts as a major transit point and accounts for over 50% of the $7.5 billion gold jewellery exports from India
 "GJEPC seeks duty cut, says Indian gold imports to cross 700 tonnes in FY18")
Gold imports double in September quarter despite GST, PMLA notification
GFMS Survey also sees strong demand in December quarter, projects high prices next year
 "Gold imports double in September quarter despite GST, PMLA notification")
Gold imports jump three-fold to $15 bn as festive season nears
The imports are expected to increase on account of the forthcoming festival season, which will start from the end of this month
 "Gold imports jump three-fold to $15 bn as festive season nears")
