New Delhi: Gold import, which has a bearing on the current account deficit, rose to $6.91 billion (Rs 51,438.82 crore) during April-May 2021 due to a lower base effect in the wake of the COVID-19 pandemic, according to the data. Ministry of Commerce.
The data shows that imports of the yellow metal declined to $79.14 million (Rs 599 crore) in the same period last year.
Silver imports, however, declined 93.7 per cent to $275.6 million.
significant jump in Gold The country’s trade deficit due to imports, the gap between imports and exports, has widened to $21.38 billion during April-May this fiscal, from $9.91 billion in the year-ago period.
India is the largest importer of gold, which mainly meets the demand of the jewelery industry. In volume terms, the country imports 800-900 tonnes of gold annually.
Gems and jewelery exports rose to $6.34 billion during the first two months of the current fiscal, as against $1.1 billion in the same period last year.
The data shows that imports of the yellow metal declined to $79.14 million (Rs 599 crore) in the same period last year.
Silver imports, however, declined 93.7 per cent to $275.6 million.
significant jump in Gold The country’s trade deficit due to imports, the gap between imports and exports, has widened to $21.38 billion during April-May this fiscal, from $9.91 billion in the year-ago period.
India is the largest importer of gold, which mainly meets the demand of the jewelery industry. In volume terms, the country imports 800-900 tonnes of gold annually.
Gems and jewelery exports rose to $6.34 billion during the first two months of the current fiscal, as against $1.1 billion in the same period last year.
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