Gold imports jump by 71.52% to $3.39 billion in December
India is the world’s second-biggest consumer of gold and the country imports 700-800 tonnes gold annually.
The imports of gold rises by 71.52% in December on account of lower global prices coupled with a robust local demand. Gold imports by India stood at $3.39 billion in December 2017 as against $1.97 billion a year ago. Besides, silver imports too rose by 106% to $197.26 million last month as against $95.84 million in December 2016. Export of gems and jewellery rose marginally by 2.38% to $3.23 billion from $3.15 billion in the said period.
Source: Commerce Ministry (India)
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