Gold Imports

This scrutiny, being jointly conducted by the Directorate General of Commercial Intelligence and Statistics (DGCIS) and the Central Board of Indirect Taxes and Customs (CBIC), is likely to conclude within a month, said an official on the condition of anonymity.

Govt forms panel to create mechanism for consistent data publication amid gold import data error

The government has revised gold import data, bringing down numbers for November by $5 billion to $9.84 billion

Double-counting of shipments inflated gold imports, says commerce ministry

On noticing unusual surge in imports of precious metals, the Centre conducted a reconciliation exercise wherein it was observed that due to migration of data pertaining to SEZs (special economic zones) to the ICEGATE (Indian Customs EDI Gateway) system, figures of precious metals needed revision, the commerce ministry said.

India's April-November gold import data revised downwards by $11.7 billion

The government has revised its gold import estimate to $37.38 billion from $49.06 billion, trade statistics department data showed.

Imports from China used to push up exports from India, says MoS Commerce Jitin Prasada

Prasada added that a fall in commodity prices of petroleum, coal, and others have also contributed to muted merchandise exports in value terms in the current fiscal so far.

Commerce Ministry examining Nov gold imports surge; data likely to be reconciled, sources say

Gold imports jumped nearly 50 percent on-year in November 2024 to $49.08 billion after the government reduced the custom duty to 6 percent from 15 percent in July.

India's gold imports to plunge in December after record November: Report

Lower imports by India, the world's second-biggest consumer of the precious metal, could cap a rally in global prices that hit a record high in October, and could also help narrow its trade deficit and support the ailing rupee

DGFT restricts gold jewellery imports from all countries except UAE

The following categories have been put under restricted imports: gold studded with pearls, gold studded with diamonds of two categories of heading, gold studded with other precious and semi-precious stones, and gold parts.

India's March gold imports set to drop 90% as prices surge: Report

Lower imports by India, the world's second biggest consumer of the precious metal, could limit a rally in global prices that hit a record high earlier this month on expectations that the Federal Reserve will cut interest rates this year.

Gold imports dip 24% to $35 billion in 2022-23

Gems and jewellery exports declined by 3 per cent to about USD 38 billion during 2022-23.

Gold imports dip 30% to $31.8 billion in April-February 2023

The merchandise trade deficit for April-February 2022-23 was estimated at $ 247.52 billion against $172.53 Billion in the year-ago period.

Gold imports up 6.4% to $13 billion in April-July this fiscal

The imports stood at USD 12 billion during the same period a year ago.

India imported 651.24 tonnes of gold in fiscal 2020-21

In a written reply to the Lok Sabha, Minister of State for Commerce and Industry Anupriya Patel said the imports stood at 982.71 tonnes in FY 2018-19.

Gold imports surge to $45 billion during April-February in FY22

The surge in gold imports during the 11-month period contributed to the widening of the trade deficit to $176 billion, against $89 billion in April-February 2021.

India-UAE CEPA | Large-scale rise in labour-intensive exports expected, commerce dept estimates show

From Day 1 of CEPA coming into force, 90 percent of India’s current exports to the UAE will have immediate market access at zero duty. A substantial rise in export flows across diverse sectors is expected subsequently.

India spends record $55.7 billion on gold imports in 2021: Report

In volume terms, India imported 1,050 tonnes of gold in 2021, the most in a decade, and far more than the 430 tonnes imported in 2020.

We expect gold imports to rise further in coming months: GJEPC

Gold imports, which have a bearing on the current account deficit, zoomed to about $24 billion during April-September 2021.

Domestic gold imports for August 2021 rise to 5-month high : Report

India's gold imports in the first eight months of 2021 tripled to 687 tonnes from the lower base of 2020, when the coronavirus outbreak forced authorities to impose a nationwide lockdown.

Proposed retaliatory tariffs by the US will hit jewellery sector hard: GJEPC chairman Colin Shah

Shah says with global demand rising, exports to the US, Hong Kong and the United Arab Emirates have grown steadily. But at home, key sectors like gold and diamond are pinning their hopes on a major revival after the pandemic.

Gold imports crash as manufacturers expect slow sales ahead of marriage season

Even as the second wave of COVID recedes, economic uncertainty, lower disposable incomes and the looming spectre of the third wave have severely dent demand. As manufacturers count their unsold inventory ahead of the biggest-selling season, jobs in the labour-intensive sector remain at stake.

April exports up three times on low base effect; imports soar 163%

The large rise is due to the extremely low volume of trade beginning in March, 2020 when the nationwide lockdown had been first instituted.

Low base pushes up March exports by 60%, imports soar 53.7%

Taking into account March figures, India's cumulative exports in 2020-21 are now expected to be $290.63 billion, down from $314 billion in the previous financial year.

March exports likely rose 58% due to low base effect, imports soared 52%: Preliminary trade data

According to preliminary data received by the government, March saw exports worth $34 billion. As a result, India's cumulative exports in 2020-21 are set to be $290 billion, down from $314 billion in 2019-20.

CAD may widen to 3% in September quarter on higher crude prices, gold imports: ICRA

ICRA expects the current account deficit to widen sharply to USD 19-21 billion or 3 percent of GDP in Q2 (July-September) FY2019, from the modest USD 7 billion in Q2 FY2018, led by higher crude oil prices and gold imports, the credit rating agency said in a statement.

India's Q4 gold imports to jump as investors seek safer bets than stocks

Increased buying by the world's second-biggest gold consumer would support global prices that have traded roughly near $1,200 an ounce since late August, but also widen India's trade deficit and add to pressure on the Indian rupee, which fell to a record low on Wednesday.