Gold Import: Import of gold increased rapidly in 2021, the figure reached here compared to last year

Posted on 11th Mar 2022 01:39 pm by rohit kumar

According to the Gem Jewellery Export Promotion Council (GJEPC), India's gold imports rose to 1,067.72 tonnes in 2021 from 430.11 tonnes in 2020 due to the outbreak of the COVID-19 pandemic. A statement said that the import of gold in the year 2021 has been 27.66 percent higher than the import of 836.38 tonnes in the year 2019.

 

 

Most imports from Switzerland

 

In this regard, if we look at the report of the Council, in the year 2021, 469.66 tonnes of gold was imported from Switzerland the most. Whereas 120.16 tonnes of gold was imported from United Arab Emirates (UAE), 71.68 tonnes from South Africa, and 58.72 tonnes from Guinea. GJEPC President Colin Shah said that the jewellery industry is witnessing an increase in exports and the domestic sales of gold jewellery have increased after the pandemic. Gold jewellery shipments from India grew 50 percent to $8,807.50 million in 2021, reflecting a sharp increase in demand for jewellery.

 

 

The effect of easing restrictions is visible

 

The report said the quantum of gold imported in 2021 is equal to 1,047 tonnes in 2015 and 1,032 tonnes in 2017. India's average monthly gold imports during April-February of FY 2021-22 stood at 76.57 tonnes, which is equal to the average gold imports done in the same period in 2018-19 and 2019-20. Gold imports during April-February in the current financial year stood at 842.28 tonnes, which is lower than the normal imports of the same period, i.e. between 690 and 890 tonnes. Shah said that as soon as restrictions were eased in various countries in 2021, the disrupted supply of gold was corrected.

 

Also Read: Ukraine crisis world's big companies angry with Russia, so far many big brands have stopped services, these names including Apple-Google

Other news

Lok Sabha Polls: LJP-Ram Vilas Parliamentary Party meeting, five party MPs elected Chirag Paswan as leader

Lok Janshakti Party chief and newly elected MP from Hajipur Lok Sabha constituency Chirag Paswan

Alia Bhatt celebrated her 30th birthday in London, and pictures of the celebrations surfaced

Alia Bhatt Birthday: Bollywood actress Alia Bhatt is celebrating her 30th birthday today. Fans an

Bigg Boss 19 Nomination: Sword of danger hanging over 4 contestants, this week's elimination twist will give a big shock.

Bigg Boss season 19 has entered its third week. Soon, the show will complete a month of being on

Amitabh Bachchan: Amitabh Bachchan furious over Rashmika Mandanna's viral deepfake, Big B demands legal action

Recently, a morphed video of South actress Rashmika Mandanna went viral on social media. On Sunda

World Cup: This greatest spinner supported the inclusion of Jadeja-Akshar in the team, said this about Chahal-Ashwin

Former Sri Lankan spin wizard Muttiah Muralitharan, one of the greatest spinners in the world, be

Mark Chapman's stormy century and Jimmy Neesham's fiery innings blew Pakistan's senses, and New Zealand's huge victory

Thanks to the stormy innings of Mark Chapman (104 *) and James Neesham (45 *), New Zealand defeat

Rare Yoga after 200 years on Rakshabandhan: Due to Bhadra, only one Muhurta, Rakhi will be able to tie from 8.25 night, the whole day is auspicious for shopping

This time there is confusion about the date and constellation of Rakshabandhan. Because the full

Ukraine crisis: Can India break defense ties with Russia?

After Russia invades Ukraine, the old relations between India and Russia are in discussion again,

US-India ties: India-US Trade Policy Forum meeting postponed, Biden administration officials to visit India

The US-India Trade Policy Forum (TPF) has been postponed to early next year, news agency ANI has

Niagara Falls deposited in America's snow storm: temperature less than zero degrees, water sheet made of ice on the world's highest waterfall

The Bomb Cyclone that hit the US and Canada is believed to be one of the biggest snow storms of t