After witnessing a surge in gold
imports, widening country’s trade deficit, Indian government is considering
more curbs on gold imports.
India’s gold imports surged 280.4 per
cent year-on-year at 4.2 billion. October shipments to India, the world's
number 2 gold consumer behind China, jumped to about 150 tonnes from less than
25 tonnes a year earlier and 143 tonnes in September.
Country’s central bank, the Reserve Bank
of India is in talks with the government for a decision on increasing curbs on
gold imports, RBI Deputy Governor S.S. Mundra said.
Overall exports in October fell to $26.09 billion from $28.9 in September, while overall imports narrowed to $39.5 billion compared to $43.15 in the previous month.
Overall exports in October fell to $26.09 billion from $28.9 in September, while overall imports narrowed to $39.5 billion compared to $43.15 in the previous month.
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