Gold Import

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Gold Import - Total results - 52
India's Jan-Mar gold demand falls 36% to 101.9 tonne due to volatile prices, economic uncertainties: WGC
Business

India's Jan-Mar gold demand falls 36% to 101.9 tonne due to volatile prices, economic uncertainties: WGC

Gold demand in India fell 36 percent in the January-March quarter of this year to 101.9 tonne due to volatile prices, economic uncertainties and coronavirus-induced nationwide lockdown towards the end of the quarter, according to a report

Gold imports dip 14% to $28.2 bn during 2019-20; gems and jewellery exports decline 11% to $35.8 bn
Business

Gold imports dip 14% to $28.2 bn during 2019-20; gems and jewellery exports decline 11% to $35.8 bn

Gold imports, which have a bearing on the country's current account deficit (CAD), fell 14.23 percent to $28.2 billion during 2019-20, according to commerce ministry data

Govt stops import incentives for exporters of gold medallions, coins: Commerce ministry
Business

Govt stops import incentives for exporters of gold medallions, coins: Commerce ministry

The government has withdrawn incentives being given to exporters of gold medallions and coins for import of raw material, according to a notice by the commerce ministry

Gold imports up 15.4% to $13.16 bn in April-July period; experts say traders may shift manufacturing bases to other countries
Business

Gold imports up 15.4% to $13.16 bn in April-July period; experts say traders may shift manufacturing bases to other countries

According to industry experts, there are apprehensions that sectoral players may shift their manufacturing bases to neighbouring countries due to high import duty on gold in India.

Union Budget 2019: Gems and jewellery sector seeks cut in gold import duty to 4%
Business

Union Budget 2019: Gems and jewellery sector seeks cut in gold import duty to 4%

On the onset of the Union Budget for 2019-20, the gems and jewellery sector has unanimously sought a reduction of gold import duty to 4 percent to check smuggling in a big way

Gold imports increase 54% to $3.97 bn in April; trade deficit widens to five-month high amid concerns of CAD
Business

Gold imports increase 54% to $3.97 bn in April; trade deficit widens to five-month high amid concerns of CAD

India is the largest importer of gold, which mainly caters to the demand of the jewellery industry.

Exports up 3.74% to $26.4 bn in January on higher growth in gems and jewellery, pharma; trade deficit narrows
Business

Exports up 3.74% to $26.4 bn in January on higher growth in gems and jewellery, pharma; trade deficit narrows

The country's exports grew 3.74 percent to $26.36 billion in January on account of growth in sectors such as gems & jewellery, pharmaceuticals and chemicals, according to data from the commerce ministry

No mechanism to fix single daily price for gold in India, says government
Business

No mechanism to fix single daily price for gold in India, says government

"Gold is widely traded in local markets across the country. At present, there are no specific measures or mechanism to fix a single daily gold price in the country," Minister of State for Consumer Affairs C R Chaudhary said in a written reply to the Rajya Sabha.

Govt sets up task force to suggest ways on reducing import dependence, says official
Business

Govt sets up task force to suggest ways on reducing import dependence, says official

In 2017-18, India's imports grew about 20 percent to $460 billion.

RBI's Letters of Undertaking ban not to impact Bengal jewellery industry
Business

RBI's Letters of Undertaking ban not to impact Bengal jewellery industry

RBI ban on Letter of Undertaking (LoU) as a trade finance instrument, will not have much impact on the gems and jewellery industry in West Bengal, but a hike in bank's credit margin may hurt the business, a GJEPC official said

Govt says will take action on P Chidambaram for relaxing gold import norm through 80:20 scheme
Business

Govt says will take action on P Chidambaram for relaxing gold import norm through 80:20 scheme

Faced with barrage of attack from the Congress over the Rs 12,700 crore fraud at Punjab National Bank, the ruling BJP had earlier this month accused Chidambaram of aiding jewellers Mehul Choksi and Nirav Modi -- main accused in the country's biggest bank fraud case -- through an 80:20 gold import scheme

Gold demand went up by 9% to 727 tonne in 2017; import of yellow metal up 59%, says WGC
Business

Gold demand went up by 9% to 727 tonne in 2017; import of yellow metal up 59%, says WGC

The growth gold demand was mainly driven by jewellery segment in 2017, which was up by 12 percent at 562.7 tonne compared to 504.5 tonne in 2016.

Foreign Trade Policy mid-term review: Exporters heave a sigh of relief; now for quicker GST refunds
Business

Foreign Trade Policy mid-term review: Exporters heave a sigh of relief; now for quicker GST refunds

According to industry estimates, in four months since July when GST came into effect, “about Rs 40,000-50,000 crore” has been pending with the government in the form of GST refunds

Tumbling gold prices may see demand pick up; festival season all set to sparkle
Business

Tumbling gold prices may see demand pick up; festival season all set to sparkle

Consumers and investors may wait for prices to decline further, as many have been waiting for a price pull-back before entering the market.

Strike enters 26th day; jewellers not to withdraw unless govt revokes 1% excise
Business

Strike enters 26th day; jewellers not to withdraw unless govt revokes 1% excise

The government move was prompted by the aim to bring the growing sector into the mainstream of economic activity by levying a tax

RBI's decision to lift ban on import of gold coins the right move: World Gold Council
World

RBI's decision to lift ban on import of gold coins the right move: World Gold Council

The World Gold Council (WGC) said the RBI's decision to lift a ban on import of gold coins and medallions by banks and allowing them to import gold on a consignment basis was a right move.

FM Jaitley wants to impose curbs on gold imports once again. Here's why
Economy

FM Jaitley wants to impose curbs on gold imports once again. Here's why

The Finance Ministry has written to the RBI to consider reimposing some restrictions on gold imports after inbound shipments surged in the last few months

CAD narrows to 1.7% in Q1 on reduced trade deficit, fall in gold imports
Economy

CAD narrows to 1.7% in Q1 on reduced trade deficit, fall in gold imports

India's Current Account Deficit narrowed sharply to 1.7 percent of GDP in the April-June quarter of this fiscal mainly on account of reduction in trade deficit, and a steep decline in gold imports.

No cheer yet: Fin Min says restrictions on gold imports likely to continue
Economy

No cheer yet: Fin Min says restrictions on gold imports likely to continue

The Finance Ministry today indicated that restrictions on gold import scheme are likely to continue till situation becomes "more comfortable".

Anand Sharma explains why curbs on gold import are leading to smuggling
Economy

Anand Sharma explains why curbs on gold import are leading to smuggling

Commerce and Industry Minister Anand Sharma has favoured a review of curbs on gold import saying the restrictions are leading to smuggling.