India’s gold imports, which have a bearing on the country’s current account deficit (CAD), dipped by 4.23 per cent to USD 12.64 billion during April-July 2024-25 due to global economic uncertainties, according to government data.
The imports stood at USD 13.2 billion in April-July 2023.
In July alone, the imports declined by 10.65 per cent to USD 3.13 billion as against USD 3.5 billion in the same month last year. The inbound shipments were also in negative during June (-38.66 per cent) and May (-9.76 per cent).
In April, the imports jumped to USD 3.11 billion from one billion in April 2023.
According to a jeweller, the high prices are discouraging the imports but it will go up from September as festive season will start in India and the import duty cut benefit is also there.
The government has slashed the customs duty on gold and silver to 6 per cent from 15 per cent.
Gold prices rose Rs 300 to Rs 73,150 per 10 grams in the national capital on August 14 amid a jump in precious m
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