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.
New Delhi. Some 1500 years ago there was a philosopher in China. The name was Lao Tsu. They used
Raunak disappeared from the markets that were buzzing till late night
In the market of the Nawabs, Lucknow, which used to stay in the market till late night, now there
Private weather forecasting agency Skymet has released the monsoon forecast for 2022. According t
OnePlus 9 series is going to be launched on 23 March. The company can launch the OnePlus 9, OnePl
Taking an important decision, the Union Health Ministry has included Coronary Stents in the list
There is no sign of any fewer problems for Team India in the Test series between India and Englan
C-295 transport aircraft will be built for the Air Force in Vadodara, Gujarat. For this, Tata has
There has been chaos in Pakistan's Balochistan after the hijacking of 'Jafar Express' going from
A five-member Constitution bench will now hear the dispute over control of rights between Delhi a
A major change has been made in the dates of JEE Main 2022, one of the biggest entrance examinati
