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18 Sep 2024

India's Trade Deficit Soars in August Amid Record Gold Imports

According to the report, the balance of payments (BoP) surplus is likely to be around USD 28-30 billion, supported by strong services exports and moderated capital inflows.

12 Jun 2024

India Imposes Restrictions On Certain Studded Gold Jewellery Imports

In July last year, DGFT amended the import policy for unstudded jewellery, and other articles made of gold to the "restricted" category from earlier "free".

09 Apr 2023

India Gold Imports Dip 30 % To USD 31.8 Bn In Apr-Feb 2023

According to industry experts, high import duty on gold and global economic uncertainties are the reason for the dip in the imports of the precious metal.

27 Nov 2022

India's Gold import tanks 17 % in Apr-Oct due to fall in demand: Ministry

Gold imports, which have a bearing on the current account deficit, declined 17.38 per cent. Imports of the yellow metal stood at USD 29 billion in the corresponding period of 2021-22. The imports during October this year also contracted by 27.47 per cent to USD 3.7 billion.

30 Jul 2020

Global gold demand in Apr-June falls 11 pc to 1,015.7 tonne

Within the investment category, while the demand for bars and coins declined by 32 percent to 148.8 tonne. the electronic traded fund (ETFs) in gold and similar products surged by a whopping 300 per cent to 434.1 tonne. COVID-19 created the perfect storm for gold investment as historic liquidity injections and record low interest rates significantly cut the cost of carrying gold.

02 Jun 2020

India's May gold imports fall 99% from a year ago to 1.4 tonnes

In value terms, May imports dropped to $76.31 million from to $4.78 billion a year ago.

25 May 2020

Gold imports fall by almost 100% in April

The import of the yellow metal stood at USD 3.97 billion in April 2019, according to the commerce ministry's data.

04 May 2018

Gold slips below Rs 32,000 on low demand, global cues

However, silver recovered by Rs 100 to Rs 40,300 per kg on scattered enquiries from industrial units.

03 May 2018

Q1 gold demand falls 12% to 115.6 tonne; imports plunge 50%: WGC

In the March 2017 quarter, demand had stood at 131.2 tonne, WGC said in a report.

80:20 gold import scheme

07 Mar 2018

BJP steps up attack on P Chidambaram, calls 80:20 gold import scheme a 'racket

BJP has alleged that Chidambaram had granted seven private firms gold import benefits on the day of the counting of 2014 Lok Sabha poll votes.

21 Aug 2017

Banks to pay 3% IGST on gold imports: CBEC

Import of gold attracts a 10 per cent basic customs duty. On top of that a 12.5 per cent countervailing duty (CVD) was levied prior to GST.

04 Jan 2017

Gold imports in 2016 decreased to lowest level after 2003

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15 Aug 2016

Gold import plunges 52.5% to $4.97 bn in April-July

Gold imports more than halved to USD 4.97 billion in the first four months of the current fiscal, which is expected to keep a lid on the current account deficit.

03 Jul 2016

Gold imports slide 51% to $2.7 billion in April-May

Gold imports fell by about 51 percent to USD 2.7 billion in April-May this fiscal, which is expected to keep a lid on the current account deficit.

28 Mar 2016

'Jewellery sales may fall 40-50 tonnes in Jan-Mar on strike'

Jewellery sales is likely to fall by 40-50 tonnes in the January-March period due to the ongoing strike against proposed 1 percent excise duty on non-silver jewellery, according to ICRA

03 Mar 2016

Up against excise duty, bullion traders shut shops for 2nd day

Gold and jewellery establishments in many parts of the country remained closed today for the second day as traders protested against a budgetary proposal to levy 1 per cent excise duty on jewellery.

02 Mar 2016

Jewellers to go on 3-day pan-India strike from today

Jewellers across the country have decided to go on a three-day strike from Wednesday to protest the proposed re-imposition of 1 percent excise duty and mandatory PAN cards for any transactions of Rs 2 lakh and above

16 Dec 2015

Govt hikes import tariff value on gold to $347

The government Wednesday raised import tariff value on gold marginally to USD 347 per 10 grams but reduced it on silver to USD 448 per kg, taking into account global price trend.

25 Nov 2015

Commerce and Industry Ministry for cut in import duty on gold

The ministry is working on ways to engage more with the states to boost the outbound shipments.

22 Aug 2015

India's imports of gold-silver alloy may almost double

India`s imports of dore, a semi-pure alloy of gold and silver, are rising fast and could nearly double this fiscal year, the head of the country`s top gold refiner said on Saturday.

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