Gold Import

Tuesday, Apr 16, 2024 | Last Update : 04:17 PM IST

Trade in intermediate goods, which are inputs used to produce a final product, is an indicator of the robustness of global supply chains. — DC Image

Intermediate goods imports post growth

For the third consecutive quarter, India had the highest growth of intermediate goods imports of 65 per cent

05 Feb 2022 10:30 AM

The gold demand in India is heavily dependent on bullion and doré imports. Bullion industry has developed over the last three decades in India with significant addition to organised refining capacity and an LBMA accredited refinery. — DC Image

Duties fail to make dent in gold imports

The duty benefits led to rapid expansion of refining capacity in India, with number of refineries growing from three in 2012 to 32 in 2020

10 Dec 2021 9:24 AM

Jewellery demand and gold investment demand also declined in the first quarter. (AFP Photo)

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

Jewellery demand and gold investment demand also declined in the first quarter and going ahead it could be a "challenging year"

30 Apr 2020 2:19 PM

Industry experts claim that businesses in the sector are shifting their manufacturing bases to neighbouring countries due to this high duty.

Gold imports dip 6.77 per cent during April-Dec 2019

The country's gold imports dipped about 3 per cent in value terms to USD 32.8 billion in 2018-19.

27 Jan 2020 10:41 AM

In 2012, gold ETFs saw an inflow of Rs 1,826 crore. (Photo: ANI)

Gold ETFs register first inflow in Aug at Rs 145-cr on higher gold prices

Higher gold prices in India may have helped investors in pumping their money in gold ETFs.

10 Sep 2019 2:59 PM

The imports dipped about 3 per cent in value terms to USD 32.8 billion during 2018-19.

Gold imports rise 54 per cent to USD 3.97 billion in April

After recording a negative growth in imports in February, gold imports started registering double-digit growth.

20 May 2019 3:12 PM

Gold imports in value terms have been shrinking for the past few months except January.

Gold imports dip in FY19

In FY18, the country had imported 804 tonnes valued $33.57 billion.

19 Apr 2019 2:35 AM

In October, the trade deficit was at $17.13 billion.

India's November trade deficit narrows to $16.67 billion

India, the world’s third-biggest crude importer, buys over 80 percent of its oil from overseas markets.

15 Dec 2018 10:15 AM

Increase in gold imports pushed the country's trade deficit to USD 94.32 billion in April-September 2018-19.

Gold imports up 4 pc to USD 17.63 billion in Apr-Sep 2018-19

In volume terms, the country imports 800-900 tonnes of gold annually.

19 Oct 2018 11:33 AM

The CBI on Friday questioned a former Deputy Governor of the Reserve Bank, H R Khan, in connection with alleged bank fraud cases involving diamond traders Nirav Modi and Mehul Choksi and relaxation of gold import policy by the erstwhile UPA government, sources said on Friday.

PNB fraud case: CBI quizzes ex-deputy governor of RBI

The officials said he was questioned about the UPA government's 20:80 gold import scheme.

06 Apr 2018 6:46 PM

The Reserve Bank of India (RBI) late on Monday dropped Axis Bank from a list of banks it has cleared to import gold and silver in the current financial year that began April 1.

RBI drops Axis Bank from list of bullion importers

It was unclear why Axis, one of India’s leading importers of bullion, did not feature in the list.

03 Apr 2018 12:57 PM

In December 2017 alone, gold imports rose to 70 tonnes from 49 tonnes in the year-ago period. (Photo: Pixabay)

India's gold imports up 53 per cent to 846 tonne

Global prices of gold remained lower between USD 1,200 per ounce and USD 1,300 per ounce.

17 Jan 2018 5:42 PM

India is in a spot as it is already grappling with a surge in gold imports from its FTA partners. (Photo: PTI)

Gold duty cut may become a thorny issue in India-EFTA talks

The two-way trade between India and EFTA slumped to USD 19 billion in 2016-17

29 Sep 2017 6:06 PM

IGST paid can be taken as input tax credit by the banks. (Photo: PTI)

Banks to pay 3 per cent IGST on gold imports: CBEC

GST is payable at the rate of 3 per cent of the total transaction value of jewellery.

21 Aug 2017 4:16 PM

The decision came at a time when Indian gold jewellery traders have raised concerns over a surge in gold imports from South Korea. (Photo: PTI)

Export of gold items above 22-carat banned

According to industry sources, some exporters were availing of export incentives by claiming export of gold items of above 22 carat purity.

17 Aug 2017 2:22 AM

Oil import was valued at USD 7.84 billion in July, an increase of 15 per cent over the same month in 2016. (Representational Image)

Export up 3.94 per cent in July; trade deficit widens to USD 11.44 bn

Cumulative export during April-July of 2017-18 rose by 8.91 per cent to USD 94.75 billion.

14 Aug 2017 6:25 PM

At present, there is a 10 per cent import duty on gold. (Photo: PTI)

Gold imports from S Korea to touch 25 tonnes in July-Aug

The 10 per cent import duty on gold does not apply to countries that have signed FTA with India.

14 Aug 2017 4:28 PM

Meanwhile, the gold demand during Q1 (January-March, 2017) grew by 15 per cent to 123 tonnes.

Tax burden on gold should reduce under GST regime: WGC

GST will bring lot of transperency in the gold industry including check on illgeal imports.

25 May 2017 5:22 PM

India's gold imports could plunge in 2017

The plunge takes place after jewellers have aggressively restocked inventory ahead of a national sales tax that takes effect on July 1.

23 May 2017 2:11 PM

However, imports too jumped 49 per cent to $37.88 billion in April 2016, pushing trade deficit to a 29-month high $13.2 billion

Indian exports rise 20 per cent in April

The strong performance expected in FY18 may help India retain the the fastest growing tag.

16 May 2017 1:54 AM

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Aakar Patel

gold import