Gold imports up 179% in December
The government hiked the import tariff value on gold to $362 per 10 grams in accordance with global prices. The Dollar Business Bureau The surge in imports of gold and silver further widened the trade deficit gap to a four-month high at $11.66 billion in December 2015. Despite Prime Minister Narendra Modis desperate attempts to curb gold imports, Indias yellow metal imports skyrocketed by over 179% to about $3.81 billion in December last year. The inbound shipments of gold in December 2014 stood at a little over $1.36 billion. Imports of silver also registered an upsurge, growing at 158% to $472 million in December 2015 from the $182.30 million in the same month a year ago, according to the latest data released from the ...
