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.
Former Sri Lankan spin wizard Muttiah Muralitharan, one of the greatest spinners in the world, be
Between 2016 and 2021, Congress has suffered the most. Meanwhile, 170 MLAs from different states
The Orion spacecraft of the American space agency NASA will pass closest to the moon today. Accor
New Delhi: Shopping malls, religious places, hotels and restaurants have reopened in the country
Ever since the Taliban government came to power in Afghanistan, the whole country is going toward
Coronavirus Updates: Big drop in corona cases in the country, 1569 cases in 24 hours, 19 deaths
There has been a big decline in the cases of Coronavirus in the country. The Health Ministry said
Ceasefire in Ukraine and way to return to the path of diplomacy must be found: PM Modi
The annual G20 summit began in Bali, Indonesia, in which many leaders from around the world are a
98 days have passed since the Russia-Ukraine war. Meanwhile, Russia has warned about military aid
Bhagwant Mann Cabinet Meeting: The meeting of the Bhagwant Mann cabinet of Punjab will start shor
Cult TV serial Kyunki Saas Bhi Kabhi Bahu Thi is all set to make a comeback on TV. Actress Smriti
