India's trade deficit widens in August on spike in gold imports…
India's merchandise trade deficit in August widened to a ten-month high of $29.65 billion after gold imports surged while exports fell, dragged down by climbing shipping costs and sluggish global ...
India's Gold Imports Surge 21.78% To $27 Billion Amid …
The jump in gold imports pushed the country's trade deficit (difference between imports and exports) to USD 137.44 billion during the first half of the current fiscal compared to USD 119.24 ...
India's gold imports bounced back to 1,067 tons in 2021: …
India's average monthly gold imports during April-February of 2021-22 fiscal stood at 76.57 tonnes, which is relatively at par with the average gold imports that was undertaken in the same period ...
Government issues import restrictions on certain gold …
In April-May FY24, India imported $112.09 million of these products, of which $76.28 million came from Indonesia. Gold imports attract 15 per cent duty.
Gold Imports To Slide In India This Fiscal Government Dl
Stocks Slide Ahead Of Trump Tariff Announcement . 5 days ago· Gold traded 0 28% higher at $1 196 26 an ounce while copper and nickel dragged industrial metals lower Emerging market stocks weakened and their currencies were led lower by led by a slide in India s rupee Turkey s lira and South Korea s won on more positive Italian fiscal . Get Price
Gold imports to slide in India this fiscal: government
Affirming the declining trend in India, the Prime Minister's Economic Advisory Council (PMEAC) has said it expects gold imports to come down this fiscal which could reduce …
India's gold imports jump 21.78% to $27 billion in April …
The jump in gold imports pushed the country's trade deficit (difference between imports and exports) to $137.44 billion during the first half of the current fiscal compared to $119.24 billion ...
India's Trade Deficit Widens in August on Spike in Gold Imports…
India's total goods and services exports for the fiscal year 2023/24, which ended in March, stood at nearly $776 billion while imports for the same period were nearly $855 billion. RISING SHIPPING ...
The craze for gold in India has led to a surge in the import of gold …
Reducing Import Dependency: By mobilizing the existing gold holdings within the country, GMS helps reduce India's reliance on gold imports. In the fiscal year 2022-2023, India's gold imports decreased to 446.4 tonnes, the lowest in the last five years, partly attributed to the success of the Gold Monetization Scheme and other initiatives ...
Gold import surge under FTAs prompts duty cut in Budget
India's imports of gold and silver from the UAE surged 210 percent to $10.7 billion in FY24, according to economic think tank Global Trade Research Initiative (GTRI).
Which Country is the Largest Exporter of Gold to India?
After China, India is the world's second largest gold consumer. During the year 202-2021, Swiss gold had accounted for around half of India's gold imports. This was recorded at $16.3 billion. India had imported a total amount of gold worth $34.6 billion during the last fiscal as against $28.2 billion during the previous year. Check - Today Gold ...
India's gold imports jump 21.78 pc to USD 27 bn in Apr-Sep
The country's gold imports, which have a bearing on the country's current account deficit (CAD), rose by 21.78 per cent to USD 27 billion during April-September this fiscal due to strong domestic demand, according to the government data. The imports stood at USD 22.25 billion in April-September 2023-24. An industry expert said that the ongoing festival demand is …
Gold imports down 4% in April-July as jewellers await onset …
Despite the dip in gold imports, the country's trade deficit (difference between imports and exports) widened to USD 23.5 billion in July and USD 85.58 billion during the first four months of this fiscal. India is the world's second-biggest gold consumer after China. The imports mainly take care of the demand by the jewellery industry.
1. Demand, Supply and the Economic Contribution of …
A quick glance at the demand for gold in India, the supply of gold in India and amount of gold imported to India paints a stark picture. Source: GFMS Gold Survey 2014 1283 987 210 176 168 582.9 102.8 335.9400 89.8 36.2 0 200 600 800 1000 1200 1400 China India United States Turkey Thailand Gold Demand Domestic supply of goldDomestic Supply of Gold
Analysis: Gold Custom Duty Revised
In a bid to match the import duty with rising prices, the government trebled the customs duty on import of gold by increasing the duty twice by Rs. 100 each time, during the fiscal year 2009-10. On January 17, 2012, the government again changed the import duty and it has been set at 2% of value from the earlier import duty of flat Rs 300 per 10 ...
Impact of Gold Import Duty Cut: Future of Sovereign Gold …
Following the Budget announcement to cut the import duty on gold, the government plans to make a final decision regarding the future of the Sovereign Gold Bonds (SGB) scheme in September. ... The Government of India finances its fiscal deficit through various instruments, including dated securities, the National Small Savings Fund (NSSF ...
Gold imports surge 26.7% to $35.95 billion in Apr-Dec
Gold imports to India surged 26.7% to $35.95 billion from April to December, compared to the same period a year earlier, driven by robust demand. In December alone, imports of the precious metal ...
Gold imports dip 4.23 pc to USD 12.64 billion in …
Jewellery Industry: India's gold imports, which have a bearing on the country's current account deficit (CAD), dipped by 4.23 per cent to USD 12.64 billion during April-July 2024-25 due to global ...
Government notifies 160 tons of gold import from UAE at …
The Indian government has allowed the import of up to 160 tonnes of gold from the UAE at a concessional rate for 2024-25 under the India-UAE free trade agreement, known as CEPA. This follows a surge in gold imports from the UAE, prompting calls for a review of the agreement. India's gold imports dropped by 4.23 per cent to USD 12.64 billion in April-July …
India's gold imports surge to record $10 billion in August
In the fiscal year 2023-24, there was a 30% increase in gold imports amounting to $45.54 billion, highlighting the volatility of this sector on India's economy. Import sources Switzerland leads as ...
Gold imports adding to revenue growth, no case for a lower …
From 678 tonnes of imports in FY23, it is expected to rise to 800 tonnes in this fiscal. The government had raised import duty on gold to 15 percent from 10.75 percent in July …
India's Gold Imports Dip 4.23% To USD 12.64 Billion In Apr …
India's gold imports, which have a bearing on the country's current account deficit (CAD), dipped by 4.23% to USD 12.64 billion during April-July 2024-25 due to global economic uncertainties, according to government data.. The imports stood at USD 13.2 billion in April-July 2023. In July alone, the imports declined by 10.65% to USD 3.13 billion as against USD 3.5 …
Gold imports dip 4.23% to $12.64 billion in Apr-July 2024
India 's gold imports, ... and $85.58 billion during the first four months of this fiscal. India is the world's ... As per the government data, silver imports jumped to $648.44 million during ...
Government curbs gold imports to check rising shipments …
PressReader. Catalog; For You; BusinessLine (Bangalore) Government curbs gold imports to check rising shipments via Indonesia - Suresh P Iyengar . The sudden spurt in dutyfree imports of gold jewellery from Indonesia under the free trade agreement was one of the main reasons for the Indian Government's decision to ban shipments of certain gold …
Indian gold import duties reduced to the lowest level in …
Gold import duty was cut by more than half. Long-term capital gains tax on gold has been adjusted down and the holding period decreased. ... Government of India. 5 Based on taxable income, different tax rates called slab rates are applied. 6 The assessment year of 2026-27 would make this applicable for capital gains for 2025-26. 7 Gold dust in ...
Impact of Gold Import Duty Cut: Future of Sovereign Gold …
In Budget 2024-25, the government slashed import duties on gold to 6 per cent from 15 per cent. While this duty cut led to a decrease in gold prices, it also resulted in increased demand for …
Gold Imports: A Roadblock to India's $5 Trillion …
In 2021, India ranked as the second largest gold importing country worldwide based on value, just below Switzerland and accounted for over 14% of global gold imports. In fiscal year 2022, India was estimated to import more …
Government notifies 160 tons of gold import from UAE at
Last fiscal, India notified 140 tonnes, and 160 tonnes for 2024-25, the official added. ... according to government data. India's gold imports, which have a bearing on the country's current ...
Importing Gold In India: Rules, Entities, Taxes
To import gold, entities can check schemes offered by the State Trading Corporation (STC) of India, a union government enterprise; STC imports gold of 100 gm and 1 Kg bars with 0.995 and 0.999 ...
Record Indian imports help drive gold rally
A surge in demand among Indian consumers for gold jewellery and bars after a recent cut to tariffs is helping to drive global bullion prices to a series of fresh highs. India's …