Friday, February 26, 2021
Home Business BUSINESS:Gold imports, which have a bearing on the current account deficit (CAD),...

BUSINESS:Gold imports, which have a bearing on the current account deficit (CAD), plunged 57 per cent to USD 6.8 billion

In the corresponding period a year ago, gold imports stood at USD 15.8 billion.
Similarly, silver imports during April-September 2020 too dipped 63.4 per cent to USD 733.57 million (about Rs 5,543 crore), the data showed.
The decline in gold and silver imports has helped in narrowing the country’s trade deficit, difference between imports and exports, at USD 23.44 billion during April-September 2020-21 as against USD 88.92 billion in the year-ago period.

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

Gems and jewellery exports declined by about 55 per cent to USD 8.7 billion in April-September 2020 amid the pandemic.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Mumbai:Mumbai on Tuesday recorded the season’s lowest temperature so far at 16 degree Celsius

Apart from the metropolis, several other parts of Maharashtra also reported a drop in night temperatures, resulting in chill and cool breeze in those...

HARYANA:Chief Secretary said that such overloaded vehicles have not only become a major cause of accidents

To ensure that there is no overloading in vehicles from other states involved in carrying mined material, Haryana Chief Secretary Vijai Vardhan Monday directed...

Nagpur bench: Mere possession of a dead animal’s skin would not amount to an offence

The Nagpur bench of Bombay High Court bench recently held that that mere possession of a dead animal’s skin would not amount to an...

Canada:Baloch activist Karima Baloch who had escaped Pakistan in 2016 to take refuge in Canada was found dead at Harbourfront in Canada.

Baloch activist Karima Baloch who had escaped Pakistan in 2016 to take refuge in Canada was found dead at Harbourfront in Canada. According to news...

Recent Comments