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Gold imports fall to 25-30 tonnes/month from 70-100 tonnes after duty hike: Govt source
Gold imports into India have dropped sharply. The government's decision to increase import duty is proving effective. Higher gold prices and reduced jewellery demand also contributed to this trend. Increased global gold recycling is another factor. Official gold inflows have also moderated. The government is not pursuing gold monetisation due to past challenges.
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economictimes.indiatimes.com
Gold imports up 34 pc to $3.41 bn in May; silver shipments plunge over 86 pc
During May, India's gold imports skyrocketed by 34 percent, hitting USD 3.41 billion, as soaring gold prices fueled demand. In stark contrast, silver imports fell steeply by 86.65…
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thehindubusinessline.com
India’s silver imports plunge 87% in May after government curbs
India’s silver imports fell 87% in May to a 3-year low after curbs and duty hikes, hitting volumes and potentially impacting global silver prices.
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timesofindia.indiatimes.com
India's silver imports plunge to over three-year low in May, curbs and higher duties hit inflows
India's silver imports slumped to their lowest level in more than three years in May after the government tightened restrictions on imports of the precious metal and raised…
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India’s gold hunger stays unshaken as higher duties fail to close the import floodgates
India's insatiable thirst for gold remains resilient even in the face of increased import duties. Prior to the tax increase, there was a notable spike in demand, which has since…
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India takes the shine off silver as imports plunge 82% in May after duty hike
May witnessed a steep decline of over 81% in India's silver imports, a result of the government's recent moves to hike import duties and require licenses for incoming shipments.…
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Gold imports drop 70% to 30 tonnes after duty hike: Official
India's gold imports plummet 70% to 30 tonnes after duty hike, yet value rises 34% to $3.41 billion in May.
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Gold imports fall to 25-30 tonnes/month from 70-100 tonnes after duty hike: Govt source
Gold imports into India have dropped sharply. The government's decision to increase import duty is proving effective. Higher gold prices and reduced jewellery demand also…