Gold Import

Showing of 21 - 40 from 52 results
Gold Import - Total results - 52
Dear FM, CAD is falling, but what about $10 bn worth smuggled gold?
Economy

Dear FM, CAD is falling, but what about $10 bn worth smuggled gold?

India officially imported around 655 tonnes of the yellow metal during the first 11 months of 2013. The demand for gold was at 975 tonnes. So how is the difference between supply and demand being met?

Current account deficit narrows to $4.2 bn in Q3 on fall in gold import
Economy

Current account deficit narrows to $4.2 bn in Q3 on fall in gold import

"The lower CAD was primarily on account of a decline in the trade deficit as merchandise exports picked up and imports moderated, particularly gold imports," the Reserve Bank said while releasing the external sector data.

Gold import curbs to be reviewed after final CAD figures, says Chidambaram
Economy

Gold import curbs to be reviewed after final CAD figures, says Chidambaram

Faced with intense pressure to relax gold import curbs, the government today said it will review the decision after getting final figures of the current account deficit (CAD)

Get this: 3,000 kg of gold smuggled every month, claims Chidambaram
Economy

Get this: 3,000 kg of gold smuggled every month, claims Chidambaram

Finance Minister P Chidambaram admitted on Monday that gold smuggling has increased in the wake of higher duties and other curbs on the import of the yellow metal into the country.

Recovery path? India narrows CAD to $ 5.2 bn in Q2
Economy

Recovery path? India narrows CAD to $ 5.2 bn in Q2

The RBI said the turnaround in export growth and decline in imports from July 2013 onwards led to a sharp improvement in the trade deficit to $83.8 billion in the first half of 2013-14.

Gold import curbs: 15 million jewellery makers may lose job
Business

Gold import curbs: 15 million jewellery makers may lose job

Gold is the second-biggest item on India's import bill after oil and, facing a record trade deficit and a plunging currency this year, the government imposed stringent rules with the aim of curbing demand for the metal.

Govt hikes tariff value on imported gold
Economy

Govt hikes tariff value on imported gold

Amid short supply of gold in domestic market during the festival season, the government today hiked the import tariff value of gold to $442 per ten gram in line with global prices of the precious metal.

CAD widens to 4.9% of GDP: Chidambaram must look beyond gold curbs
Economy

CAD widens to 4.9% of GDP: Chidambaram must look beyond gold curbs

The general consensus is CAD will get better in the coming days, but that needs to be achieved by boosting manufacturing and garnering a larger slice of the export market.

Govt hikes import duty on gold, silver jewellery to 15%
Economy

Govt hikes import duty on gold, silver jewellery to 15%

The government today increased the import duty on gold and silver jewellery to 15 percent from 10 percent to protect the domestic industry, although it would make ornaments more expensive for consumers.

Despite govt curbs, India's gold consumption highest in 10 years
Economy

Despite govt curbs, India's gold consumption highest in 10 years

Much of the demand was met by stocks that had been built up to healthy levels following the April price drop.

Why India, China's gold demand may hit record high in 2013
Economy

Why India, China's gold demand may hit record high in 2013

India's demand reached 566 tonnes in the first half of the year, a 50 percent jump but still lower than China's 600 tonnes, the industry-funded WGC said in its report.

RBI bans import of gold coins, medallions without licence
Economy

RBI bans import of gold coins, medallions without licence

Seeking to reduce the import of gold, the Reserve Bank today prohibited inward shipment of gold coins, medallions and dores without licence.

Only reining in dollar demand, building buffers will help rupee now
Economy

Only reining in dollar demand, building buffers will help rupee now

What do we do about the rupee? This is a question that is nagging everyone because notwithstanding all the measures that have been invoked so far to stabilise the rupee, it just keeps slipping downwards.

Gold prices set to rise further as RBI puts curb on imports
Business

Gold prices set to rise further as RBI puts curb on imports

Seeking to tighten gold imports in the face of a widening CAD, the Reserve Bank set stringent conditions for importers, linking inward shipments to future exports, a decision that will make it costlier.

PM vows to revive economy, BJP says it's 'only promises'
Politics

PM vows to revive economy, BJP says it's 'only promises'

India is committed to bringing its current account deficit under control and reducing demand for gold and petroleum products, he said at a conference on New Delhi.

Calling FM's bluff: Why not ask RBI to sell its gold?
Economy

Calling FM's bluff: Why not ask RBI to sell its gold?

If Chidambaram really believes that gold is no different from copper or glass, why not ask the RBI to sell its gold and buy copper instead?