
New Delhi: The country's gold imports have fallen for the fifth consecutive month in April. Due to the global lockdown due to Covid-19 infection, it has fallen by 100 per cent to $ 28.3 lakh. It was $ 39.7 billion in April 2019 according to the Commerce Ministry data.
The fall in gold imports has helped in reducing the country's trade deficit. The country's trade deficit stood at $ 6.8 billion in April compared to $ 15.33 billion in April last year. The country's gold imports have continued to decline since December. India is the world's largest importer of gold. Every year around 800 to 900 tonnes of gold are imported into the country.
Export of gems and jewelery dropped in April
Gems and jewelery exports from the country fell 98.74 per cent to $ 36 million in April. The country's gold imports fell 14.23 percent to $ 28.2 billion in FY 2019-20, from $ 32.91 billion in 2018-19.
Import of gold puts a big burden on the current account deficit of the country. Current account deficit means the difference between the arrival and departure of foreign capital in the country.
Lockdown 4.0 released, many industries still stalled
The impact of the Corona virus is so great that almost all the industrial activities of the country were stalled. However, in the lockdown 4.0 which started from May 18, the government has given permission to open many industries. Its huge impact has also been seen on the gold business. Where the spot trade of gold is closed and desolation is prevalent in the bullion market.
Jewelers may face problems
Due to the decrease in gold imports, the burden on the current account has reduced, but when the bullion markets open in the coming times, the jewelers may have to face the shortage of gold because India imports most of the gold it needs.
Prime Minister Narendra Modi will hold bilateral meetings with Quad leaders including US Presiden
On August 15 last year, the terrorist organization Taliban, which seized power in Afghanistan, ma
(Budaun Double Murder Case) A few people were trying to give a communal form to the murder of two
Former Prime Minister of the country Manmohan Singh supported the stand of the Central Government
Cold wave sweeps across North India, temperatures drop from Delhi to Bihar; read IMD's update.
Summer has begun to leave most states across the country, and a mild winter has arrived. Be it De
After the arrest of former Maharashtra Home Minister Anil Deshmukh, now another central agency se
Top 5 Android phones to compete with iPhone, will get 5G network support
Recently, four variants of the iPhone 12 have been launched and their price ranges from $ 699 to
If it's not a miracle, then what? God heard the compassionate call of a mother. Her six-year-old
Sri Lanka Protest: Nationwide strike against hike in tax rates in Sri Lanka, life disrupted
Sri Lankan trade unions called for a nationwide strike on Wednesday to protest against the hike i
Corona cases are increasing continuously in the country. 12,781 new infections were found on Sund