20/12/2020 Gold imports dip 40% in Apr-Nov to $12.

3 bn - The Economic Times

English Edition | 20 December, 2020, 06:09 PM IST | E-Paper

Gold imports dip 40% in Apr-Nov to $12.3 bn

Synopsis
Imports of the yellow metal stood at $20.6 billion in the corresponding period of 2019-20.

Reuters
New Delhi: Gold imports, which have a bearing on the current account de cit, fell 40 per
cent to $12.3 billion during April-November due to fall in demand in the wake of the COVID-
19 pandemic, according to data from the commerce ministry.

Imports of the yellow metal stood at $20.6 billion in the corresponding period of 2019-20.

RELATED The imports, however, recorded a year-on-year growth of 2.65 per cent in November to $3
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Silver imports during April-November 2020 too dipped 65.7 per cent to about $752 million.
harm gold

Commodity strategies: Gold, The decline in gold and silver imports has helped in narrowing the country's trade de cit,
silver, crude, base metals di erence between imports and e ports, to USD 42 billion during April-November 2020-21
as against USD 113.42 billion in the year-ago period.

India is the largest importer of gold, which mainly caters to demand of jewellery industry. In volume terms, the country
imports 800-900 tonne of gold annually.

Gems and jewellery exports declined by 44 per cent to $14.30 billion during the rst eight months of the current scal.

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